Art forgery network involving fake Banksys, Warhols, Picassos, uncovered in Italy

Italian authorities say a network of European sculptors painted fake Warhols, Banksys and Picassos and then tried to sell them to unsuspecting buyers through fake auction houses.

38 people are under investigation, including six in Spain, France and Belgium. Italian authorities say the network could have caused 200 million euros ($212 million) in economic damage by flooding the art market with fake works.

The Ministry of Culture of Italy said on Monday that the confiscation of people in Italy, France, Spain and Belgium benefited 2,100 30 famous artists including Andy Warhol, Amedeo Modigliani, Banksy, Pablo Picasso, Joan Mirò, Francis Bacon, Wassily Kandinsky, Henry Moore. and Gustav Klimt.

The project revealed a network of creators in Spain, France and Belgium who produced these works, said Eurojust, the European Union’s judicial cooperation body. Fake Warhols and Banksys are the most commonly counterfeited and the fakes are displayed in exhibitions in Mestre and Cortona, Italy, and published catalogues, authorities said.

Eurojust said the network was able to use strong auction houses in Italy that issued fake certificates and authenticity stamps, around 500 of which were also seized.

The investigation began in March 2023 when Italian authorities discovered 200 lies during a search of the home of a businessman in Pisa that prompted them to monitor the e-commerce sites of auction houses to see if others were involved in the network.

Those arrested are accused of conspiracy to create and use modern art, Eurojust said.