Artist Burden’s $3 million Burden

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Transracial applauds The New Yorker for being first to market with a comprehensive feature on the scandalous decline of Texas billionaire Sir Allen Stanford in this week’s issue.

It was refreshing to see an American publication properly on the case — unlike with the whole Iceland melt-down story months ago, which is only now being covered in Portfolio, Vanity Fair and The New Yorker itself. Competitors across the pond including Transracial favorite The Financial Times Weekend Magazine were all over Iceland’s economic implosion last year.

But we digress.

One of the most interesting aspects of the Stanford case is its trickle-down effect on the most unlikeliest of victims — noted contemporary artist Chris Burden (work, above).

It appears as if this weekend Burden was slated to debut his latest work — One Ton, One Kilo — at the Gagosian gallery in Beverly Hills.

The piece’s exact content remains a mystery, but what we do know is that it was supposed to feature some $3 million worth of gold purchased by Burden and Gagosian as part of the work.

No more.

Turns out the gold is stuck in limbo — having been bought from a company controlled by Stanford whose assets (gold included) have been frozen by the US court investigating Stanford’s billion-dollar fraud case.

The artist and gallerist are fighting hard to retrieve their metal.

Meanwhile, Stanford’s case shines on.

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