Fake Banksys, Warhols, Modiglianis artwork uncovered in Italy
Rome – European Art Forgery Network Dismantled by Italian Authorities
Italian authorities have successfully dismantled a network of European art forgers who specialized in creating fake works attributed to renowned artists such as Warhol, Banksy, and Picasso. This sophisticated operation involved the production and sale of counterfeit art pieces, with complicit auction houses aiding in the distribution to unsuspecting buyers.
The investigation has resulted in 38 individuals being placed under investigation, spanning across Spain, France, and Belgium. It is estimated that the network could have caused economic damage amounting to 200 million euros (US$212 million) by flooding the art market with fake works.
Italy’s culture ministry announced that raids conducted in Italy, France, Spain, and Belgium led to the seizure of 2,100 counterfeit works attributed to over 30 renowned artists, including Andy Warhol, Amedeo Modigliani, Banksy, Pablo Picasso, and others. The operation exposed a network of forgers operating in multiple European countries, with Spain, France, and Belgium identified as key hubs for the production of fake art.
According to Eurojust, the European Union agency for judicial cooperation, fake Warhols and Banksys were among the most commonly forged pieces. These counterfeit works were showcased at exhibitions in Mestre and Cortona, Italy, accompanied by a published catalogue. The network also utilized complicit auction houses in Italy to issue forged certificates and authenticity stamps, with 500 such items being seized during the operation.
The investigation was initiated in March 2023 when Italian authorities discovered 200 fake artworks during a search at the residence of a businessman in Pisa. This discovery prompted authorities to monitor e-commerce sites of auction houses to identify other individuals involved in the network. Those arrested are facing charges of conspiracy to forge and deal in contemporary art, as confirmed by Eurojust.
