Robert A. Olins Sentenced in $657K Art Fraud Scheme

Robert A. Olins, a 60-year-old Connecticut man, was sentenced to two years in federal prison for conspiracy to obstruct justice and money laundering after a years-long scheme to hide millions in assets from two federal courts and the Securities and Exchange Commission. The sentence, handed down by U.S. District Judge Jesse M. Furman, marks the end of a brazen deception centered on a multimillion-dollar art and antiques collection that Olins was legally required to liquidate.

Olins pled guilty on June 10, 2016, admitting he defrauded the courts by falsifying financial records and concealing the sale of high-value antiques. A $3.3 million disgorgement judgment had been issued against him by a California federal court on February 25, 2011, following an SEC enforcement action. When the SEC moved to enforce that judgment in New York, a receiver—American Bank and Trust Company (AB&T)—was appointed in May 2012 to seize and sell Olins’s art collection to satisfy the debt.

Despite court orders, Olins launched a covert operation from August 2011 to August 2015 to siphon proceeds from the very assets he was prohibited from touching. He orchestrated unauthorized sales from the Art and Antiques Collection, pocketing approximately $657,000 that should have gone to the SEC and AB&T. Among his purchases: a $695,000 set of antique wall brackets—bought with stolen proceeds—now subject to forfeiture.

In June 2012, Olins escalated the scheme by wiring illicit funds to an account in the Isle of Man, a known offshore haven. Once deposited, he directed the money back into the U.S. to cover personal expenses—effectively laundering it while shielding his wealth from federal oversight. He then lied under oath, failing to report the $657,000 windfall on a mandatory financial affidavit filed with the California court.

“Robert Olins deceived and hid assets from two federal courts, a court-appointed receiver, and the SEC,” said U.S. Attorney Preet Bharara. “He repeatedly lied to the court, and, rather than satisfy court judgments as required, he used the proceeds to pay for personal luxuries.” The Southern District of New York, where the case was prosecuted, emphasized the seriousness of undermining federal judicial authority.

On top of his 24-month sentence, Olins was ordered to serve two years of supervised release, forfeit $160,000 and his interest in the antique wall brackets, and pay $657,000 in restitution to the receiver. Federal authorities, including the FBI, U.S. Postal Inspection Service, and SEC, were credited for unraveling the intricate fraud. The case stands as a stark warning: even the most polished white-collar criminals can’t hide from federal reach.

RELATED: Smith Gets 10 Years for Stolen Gun Stash