The former co-owner of a defunct Manhattan art gallery has been charged in a 100-count indictment with stealing $88 million from investors, art owners and Bank of America Corp, state prosecutors said.

In a statement, Manhattan District Attorney Robert M. Morgenthau said Lawrence B. Salander, the one-time co-owner and manager of Salander-O'Reilly Galleries LLC, and the gallery have been charged with grand larceny, securities fraud, forgery, falsifying business records and other charges.

Gallery Owner Stole $88M From Investors,Clients

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