Upper East Side art gallery owner Lawrence B. Salander pleaded not guilty Thursday to charges of stealing $88 million from his investors, owners and a bank between 1994 and 2007.

Salander also pleaded not guilty to charges of securities fraud, forgery and perjury.

One scheme allegedly made by Salander-O'Reilly Galleries, LLC involved selling the same stakes of certain paintings to different people, including tennis legend John McEnroe.

According to Manhattan District Attorney Robert Morgenthau, Salander allegedly engaged in such crimes "to finance his self-imposed extravagant lifestyle, which included travel by private jet within the United States and Europe... and the purchase and maintenance of his Manhattan townhouse and his 66-acre estate in Millbrook in Dutchess County, N.Y."

Bail was set for Salander at $1,000,000, but his attorney Charles Ross was confident that Salander would be out of jail as early as Friday.

"This is obviously not a good day for him, but he has been aware that there is an investigation for quite some time and he has prepared for this day," said Ross. "And as I said, he entered a not guilty plea and we're gonna fight the charges."

The grand jury that investigated Salander for six months elected this week to continue their investigation for another six months.