At the same time as Mr. Trincher's arrest, the FBI said it staged a raid roughly 20 blocks north at the HellyNahmadGallery inside the Carlyle Hotel on Manhattan's Upper East Side.
"The only reason we sell is to fuel our ability to buy, " says David's son Helly, 29, who runs a gallery in the posh Carlyle Hotel on Madison Avenue. (Helly's cousin, also named HellyNahmad after their grandfather Hillel in the Sephardic Jewish tradition, runs a gallery in London.) And while there is a cost to holding that inventory, the family's currency business helps support their art strategy.