Lawrence B. Salander, a noted Upper East Side art dealer, has been indicted on charges he stole eighty-eight million dollars from investors and collectors who consigned artwork to him and said they were cheated out of the sale proceeds or never saw the pieces again, reports James Barron for the New York Times.

Salander and his business, the Salander-O’Reilly Galleries, were charged by a grand jury with one hundred counts including grand larceny, falsifying business records, scheming to defraud, forgery, and perjury, according to a source briefed in the case who declined to be identified because the charges had not been formally announced.

Salander was arrested at his home in upstate Millbrook, New York, on Thursday morning. Salander’s gallery displayed paintings as different as English landscapes by John Constable and modernistic scenes by Robert De Niro Sr., the actor’s father. The gallery boasted that The Robb Report, the glossy lifestyle guide for the rich, had cited it as the best gallery in the world in 2003.

The gallery shut down amid a barrage of lawsuits accusing Salander of falling behind on obligations like payments he had promised customers who invested in paintings with him. Salander filed for bankruptcy after closing the gallery and moved to Dutchess County after listing his town house on East Eighty-second Street with real estate brokers.