Italian authorities have uncovered a massive forgery ring spanning across Europe, estimated to be worth $215 million.
The authorities have identified 38 individuals across Europe suspected of participating in a large-scale operation to produce and sell counterfeit artworks attributed to renowned artists such as Banksy, Pablo Picasso, and Andy Warhol. The investigation, which spans Italy, Spain, France, and Belgium, involves allegations of conspiracy, forgery, handling stolen goods, and illegal art sales. This effort was announced by Italy’s Carabinieri art squad and the Pisa prosecutors’ office, with Reuters first reporting the news.
Chief Prosecutor Teresa Angela Camelio described the operation as a significant step in protecting Banksy’s legacy, with assistance from experts affiliated with the artist’s archive. The probe has so far led to the discovery of forgeries attributed to Claude Monet, Vincent van Gogh, Salvador Dalí, Marc Chagall, Francis Bacon, and Piet Mondrian. Authorities have seized approximately 2,100 counterfeit pieces valued at $215 million and dismantled six forgery workshops, including two in Tuscany and one in Venice.
Also Read: The Triumph of Death by Pieter Bruegel: A Stark Reflection on Wealth and Afterlife Condemnation
The investigation began in 2023 after authorities confiscated 200 fake artworks, including a drawing falsely attributed to Amedeo Modigliani, from a businessman in Pisa. The forgeries’ provenance traced their movement through various Italian auction houses and pointed to their suppliers. Investigators also revealed that the suspects organized two Banksy exhibitions in Mestre, near Venice, and Cortona, Tuscany, to legitimize the forged works.
