Counterfeit ticket ring found to be operating at Versailles

French police arrested five employees of the Château de Versailles on Sunday (9 October) for selling fake tickets to the historic site, The Art Newspaper reports.

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

US$137 million worth of art thought to have been purchased with misappropriated funds

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