Issue #43  4/30/2002
Former Sotheby's Chief Exec Gets Fine and Suspended Sentence For Role in Price-Fixing of Commissions/Fees

Former Sotheby's chief executive Diana Brooks, who pleaded guilty to charges of price-fixing on commissions and fees with rival Christie's was sentenced to six months of home detention and ordered to pay a $350,000 fine. She also has to serve 1,000 hours of community service.

Federal Judge George Daniels termed Brooks' decision to plead guilty and cooperate with authorities "self-serving. Although your decision to cooperate was the right one, it was not a noble gesture motivated by a guilty conscience," Daniels said.

Brooks' sentencing came just a week after former Sotheby's Chairman Alfred Taubman was sentenced to a prison term of one year and fined $7.5 million for his part in the price-fixing scheme. Brooks agreed to testify against Taubman to avoid a three-year prison sentence.