Several artists will divvy up about $250,000 from a Buckhead art dealer who pleaded guilty to keeping money he owed them, according to prosecutors.
Bill Lowe, 63, stole more than $500,000 from at least 11 artists by selling their work but not giving them the proceeds, according to a news release from Fulton County District Attorney Paul Howard.
In a three-year period, Lowe used money from the operating account of Bill Lowe Gallery for $69,000 in mortgage payments, $3,500 on a property in North Carolina and $170,000 for personal use, according to Howard.
Georgia law required Lowe to pay the artists before using the money to pay any of his expenses, Howard said.
“I acknowledge that artists relied upon me to receive payment from the proceeds of sales from the artwork,” Lowe said in a written statement to Fulton County Superior Court Judge Ural Glanville. “I further acknowledge that I did not fully reimburse the artists in a timely fashion as required. Finally, I am making all of the artists whole and I am glad to be able to do so at this time.”
“I just wanted to thank you for staying with this case and seeing that justice has been served,” artist Mark Perlman said. “In addition to the money, I am pleased that Lowe will be held responsible and not able to take advantage of his artists again.”
Lowe received 10 years’ probation for his guilty plea to one count of felony theft by conversion, Howard said. As part of his sentence in April, Lowe also will have to complete 750 hours of community service. The total restitution amount of $256,514.92 was placed in an escrow account for payment to the artists.
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