Brooke Astor’s son, Anthony D. Marshall, was indicted today on charges of looting his mother’s estate, valued at nearly $200 million.
The indictment charges Marshall with grand larceny, conspiracy, forgery, criminal possession of stolen property, scheme to defraud, falsifying business records and offering a false instrument for filing.
Also charged was Francis X. Morrissey Jr., an attorney whom Marshall hired to handle estate matters for his mother.
“The indictment charges that Marshall and Morrissey took advantage of Mrs. Astor’s diminished mental capacity in a scheme to defraud her and others out of millions of dollars,” New York District Attorney Robert Morgenthau announced.
Morgenthau said Marshall abused his power of attorney and persuaded his mother to sell assets by falsely telling her that she was running out of money. He said Marshall and Morrissey were accused of talking Mrs. Astor into signing two changes to the will, leaving the entire estate to her son. A signature on a third amendment had been forged, Morgenthau said.
Astor, a well-known philanthropist and society matron, died in August at age 105.
The criminal investigation was sparked by allegations from Marshall’s son Philip, who filed a civil suit accusing his father of stealing from Mrs. Astor and failing to properly care for her.
The district attorney’s office said in a press release today that investigation had shown that Marshall was a paid financial adviser for his mother for many years. As long ago as 2001, her doctors told him she was suffering from Alzheimer’s and had limited ability to understand complicated issues.
Marshall allegedly induced his mother to sell one of her favorite paintings, Up the Avenue from Thirty-Fourth Street, by Childe Hassam. Rather than selling it at auction, Marshall sold it through a private gallery for $10 million and took a $2 million commission.
Marshall is also accused of misappropriating his mother’s money to pay expenses of Delphi Productions, a theatrical production company he founded with his wife, Charlene. Morrissey is a director of the company.
The indictment also says Marshall stole two works of art valued at a combined $1 million, and used his mother’s money to pay for a yacht captain.
Marshall, 83, has repeatedly denied allegations of misconduct. He also has criticized those who have stepped up to intervene on his mother’s behalf - an elite group that includes David Rockefeller, Annette de la Renta and Henry Kissinger.
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1 Comments
#1. Lou Ann Anderson 11.30.2007
At www.estateofdenial.com, we call this the Involuntary Redistribution of Assets. These type situations happen more often than people realize and occur with estates of all sizes.
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