Summary
Italian police have dismantled a large pan-European forgery ring producing fake artworks attributed to renowned artists, including Banksy, Picasso, and Warhol.
Thirty-eight individuals across Italy, Spain, France, and Belgium are under investigation for handling stolen goods, forgery, and illegal art sales.
Authorities seized over 2,100 counterfeit pieces valued at €200 million and uncovered six forgery workshops.
The investigation began in 2023 after fake works were found in a businessman’s collection, leading to discoveries of forgeries sold in auction houses and linked to organized exhibitions.
The inflated art market is a great tool for money laundering and tax evasion. There is a lot of people with a lot of money who care.