In a significant crackdown, Italian authorities have dismantled a vast network involved in creating and selling counterfeit artworks by renowned artists such as Andy Warhol, Banksy, and Pablo Picasso. This operation has revealed the complexities of art forgery in Europe, where fake pieces were allegedly sold with the assistance of complicit auction houses.
As part of this investigation, 38 individuals are currently under scrutiny, with six suspects based in Spain, France, and Belgium. Authorities estimate that this fraudulent scheme could have caused damages amounting to 200 million euros (approximately $212 million) by inundating the art market with these counterfeit artworks.
Italy’s culture ministry reported on Monday that recent seizures across Italy, France, Spain, and Belgium resulted in the confiscation of 2,100 counterfeit artworks. These fakes were attributed to over 30 celebrated artists, including Amedeo Modigliani, Joan Mirò, Francis Bacon, Wassily Kandinsky, Henry Moore, and Gustav Klimt, in addition to the most commonly forged pieces by Warhol and Banksy.
The investigation began in March 2023 when authorities stumbled upon 200 fake artworks during a search of a businessman’s residence in Pisa. This discovery led them to monitor auction sites to uncover the extent of the forgery network.
According to Eurojust, the European Union agency for judicial cooperation, the forgers operated from Spain, France, and Belgium, producing many of the counterfeits. These fake pieces were publicly displayed at exhibitions in locations such as Mestre and Cortona in Italy, complete with published catalogues, further misleading potential buyers.
Additionally, Eurojust revealed that the network collaborated with complicit auction houses in Italy, which issued fraudulent certificates and authentic stamps, around 500 of which were also seized during the raids. The accused individuals face serious charges related to conspiracy, forgery, and selling counterfeit contemporary art.
