Andrew Foster was arrested on Thursday, May 28, before he could board a flight to Copenhagen, Denmark, Burlington County Prosecutor LaChia Bradshaw said.
An investigation into Foster began after prosecutors were contacted by an attorney representing an art buyer who claimed his client was the victim of theft that occurred after a negotiated artwork transaction was terminated, Bradshaw said.
Foster’s company, Genesis 8 Holdings, received $240,8333 for a painting he was brokering between the seller and buyer, Bradshaw said. But after the deal fell through, Foster refunded just $50,000, leaving a balance of $190,833 that was never returned, Bradshaw said.
The victim said multiple requests to have the money returned were ignored by Foster, Bradshaw said.
Foster is charged with four counts of theft, failure to pay New Jersey income taxes and failure to file a New Jersey Income Tax Return, Bradshaw said.
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