US Attorney announcing charges via Chicago Sun-Times
Buyers of ‘limited edition’ signed fine art prints take note– the Feds have indicted an international ring of several dealers making, forging signatures, and selling fake prints by Chagall, Picasso, Calder, Warhol and other big name artists. Utilizing Ebay, galleries and art fairs to sell the works, the fakes were made by reproducing from original artworks and by creating prints in the ‘style’ of a particular artist.
A fake print in the style of Miro via BBC
Thousands of fake prints have been dumped on the market between 1999 and 2007, selling for up to $50,000 each. Victims may be eligible to sue under the Fine Prints Disclosure Act, which allows individuals to reap up to three times the amount spent on fraudulent work. As Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois, put it in the FBI’s press release: “con artists should not be confused with master artists.”