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“More than a tabloid story, the divorce also threatens to expose the private dealings of one of the wealthiest and most influential families in the art world. Mr. Mugrabi, 47, is the scion of a powerful art-dealing family that is reportedly worth $5 billion and owns some 1,000 works by Warhol, making it the world’s largest private holding.”
“When Ms. Mugrabi left the Hamptons house to consult a divorce lawyer, she said that moving trucks arranged by her husband arrived to remove the most valuable art.
“He took a bunch of Basquiats, he took multiple Warhols, he took about a dozen KAWS paintings out of the house. Two huge George Condos,” she said. “I would say he took at least $200 million in art.”
Ms. Mugrabi believes that her husband was trying to hide the assets from a potentially expensive divorce.”
“While Ms. Mugrabi does not likely have a right to the wealth Mr. Mugrabi brought into the relationship, she could have a significant claim on the family’s art business, and potentially the art.
“The goal here is to prove the extent of Ms. Mugrabi’s contributions to the couple’s business and how the money is held,” [matrimonial lawyer Ken] Jewell said. “If you can prove the money exists, then there is a claim. Then the question becomes: Where’s the money?”