Peter Max And Stan Lee Highlight Financial Elder Abuse Epidemic

by Danielle and Andy Mayoras

Artist Peter Max was recently the subject of an extensive investigative piece in the New York Times about financial exploitation surrounding the popular painter. Max is 81 years old and struggles with dementia. The article detailed how the artist had not produced art in four years, but that reality did nothing to slow down the production of Peter Max paintings. Last year, Peter Max's art studio netted more than $30 million in profits, mostly through cruise line art sales of Peter Max creations.

Artist Peter Max with the Road Show Company exhibit on Sept. 6, 2014, in Northbrook, IL. (Photo by Barry Brecheisen/Invision/AP)

Barry Brecheisen/Invision/AP

The problem, according to the Times, is that Max did nothing more than sign the works, while other painters created them. Max, per the report, has not been able to paint since at least 2012. His dementia has progressed to the point that he does not know what year it is or understand the concept of being interviewed by a reporter. He went on cruises to promote art sales until he became too exhausted and confused, even soiling himself at one point.

Peter Max's son, Adam Max, took the helm of his studio, claiming his father asked him to take over active management. Peter oversaw a turnaround that took the studio from bankruptcy to a thriving business based on selling new Peter Max paintings.

When Peter's much-younger wife, Mary Max, filed for guardianship over her husband in 2015, she claimed that Adam had effectively kidnapped Peter, repeatedly moving him and concealing his location from family and friends. Mary won the right to return Peter home to live with her, with an independent guardian being appointed to manage his affairs. Despite her victory, reports surfaced that Mary too was accused of mistreating her husband, demanding more money, threatening divorce, withholding food, and even serving him hidden "large Brazil nuts" in smoothies, presenting an obvious choking hazard.

Through it all, Peter Max kept "working", signing his names to paintings and generating tens of millions of dollars annually.

The story was similar for the late Marvel Comics legend, Stan Lee, who also battled dementia before he died at age 95. He was squarely at the center of a power-struggle between his daughter, a former publicist, and a collector-turned-business parter to Stan Lee, named Keya Morgan. Lee was the subject of an elder abuse court proceeding that led to the appointment of an attorney to serve as guardian at litem to protect him. While we wrote an article calling for a conservator to be appointed to protect Stan Lee, he died a few months later, before anyone filed for conservatorship. The attorney remained as Lee's protector until the end.The true extent of the financial abuse has only recently been revealed. Authorities in Los Angeles took the unusual step of charging Morgan criminally for elder abuse of Stan Lee. Morgan was recently arrested for false imprisonment, grand theft from an elder, and elder abuse. For example, he is charged with pocketing $262,000 in autograph sales from Lee. Morgan is also accused of mishandling more than $5 million, exerting undue influence, and moving Lee from his home to isolate him.

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Peter Max And Stan Lee Highlight Financial Elder Abuse Epidemic