Lawrence Salander, New York art dealer who pleaded guilty to defrauding his clients was sentenced to 18 years in jail. He is also to pay $120m in restitution, but is unlikely to do so after being declared bankrupt.

The state supreme court in Manhattan proved the fact that, 2004 to 2007, 61-year-old Salander was defrauding his clients by selling them paintings he did not own and persuading them into investing in dubious projects.

The tennis player John McEnroe paid $2m after Salander persuaded him to invest in a painting by Arshile Gorky that the art collector did not own.

Robert De Niro Sr, father of the renowned actor, is among his victims.

Salander purchased a magnificent house and a private jet. The court ordered him and his Manhattan gallery to pay the U.S. $120m to 30 victims.