Art Dealer Arrested for Fraud in Spain

  • April 20, 2014 15:57

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A $25 million suit was filed over the authenticity of a purported Mark Rothko painting sold by the former Knoedler Gallery.

The partner of accused art fraudster Glafira Rosales was nabbed by authorities in Spain during Easter festivities over the weekend.

Spanish businessman Jose Carlos Bergantinos Diaz, who is wanted for fraud in the United States in connection to a massive art scam, was arrested Friday at a luxury hotel in Seville.

Rosales was arraigned in August in Manhattan for a 15-year art fraud from which she generated more than $30 million for 63 pieces of fake art. She sold "rediscovered" works by modern masters such as de Kooning and Pollock to New York galleries, notably the now-bankrupt Knoedler & Co. Multiple lawsuits have ensued.

A Chinese painter in Queens was reportedly Rosales' source. The galleries evenually sold the fakes for an estimated $80 million, making a $48 million profit.

Bergantinos Diaz will appear before a judge in Spain and likely faces extradition to the U.S.

Tags: American art

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