The employees, aged 21 to 34, were charged with fraud and taken into police custody. Four admitted to selling fake tickets and were indicted on 11 October. A fifth man, the suspected ringleader, has denied responsibility and remains in jail. Continue reading
A Malaysian financier purchased multimillionaire dollar art works including two paintings by Claude Monet using funds stolen from a government investment fund, artnet news reports.
According to documents released by the US Department of Justice, hundreds of millions of dollars were transferred from Jho Low’s 1Malaysia Development Bhd (1MDB) fund to a personal account named “Tanore”. Continue reading
Nine people were arrested last week in Valencia, when police uncovered a forgery ring and seized 271 faked artworks. They are accused of selling and forging artworks by twentieth century masters, including Andy Warhol, Pablo Picasso and Joan Miro. Continue reading