Basquiat and Calleja works entangled in Vancouver real estate fraud lawsuit

A $6.9 million art collection featuring works by Jean-Michel Basquiat, Javier Calleja, Rashid Johnson, George Condo, Sam Gilliam, Tania Marmolejo, Tammi Campbell, and Jordy Kerwick is at the center of a Vancouver real estate lawsuit. The suit, filed by Coromandel Properties part-owner Junchao Mo (Macau) and his sons against CEO Jerry Zhong, alleges Zhong used investor funds to buy art from CICA Vancouver and Talisman Gallery, then used the art as collateral for a $3.3 million line of credit, which he misappropriated. The art was never displayed. Zhong denies all allegations. The case, ongoing in the Supreme Court of British Columbia, saw a recent motion by defendant lawyer Jason Wang to consolidate three lawsuits, which was granted. Coromandel Properties collapsed in 2023 with C$700 million in debt across 16 properties. The company had previously sponsored Vancouver Art Gallery exhibitions including Monet and Murakami shows, and employed former city councillor Raymond Louie. The art's whereabouts remain unknown.