Crime Syndicate Selling Forgeries by Banksy, Picasso, and Others Caught

Arrest of 38 Related Persons, Seizure of Over 2,100 Items

The Italian government has uncovered a criminal organization that produced and sold forgeries of works by famous modern and contemporary artists such as Banksy, Pablo Picasso, and Andy Warhol.

Banksy 'Girl with Balloon'

According to Reuters and other sources on the 11th (local time), the Pisa prosecutor's office and the Carabinieri Cultural Heritage Protection Unit announced that they arrested 38 individuals on charges including handling stolen goods, forgery, and illegal sale of artworks.

More than 2,100 forged pieces were seized. In addition to Banksy, Picasso, and Warhol, works by Claude Monet, Vincent van Gogh, Salvador Dal?, Henry Moore, Marc Chagall, Francis Bacon, Paul Klee, and Piet Mondrian were also reportedly included. The Pisa prosecutor's office explained that the market value is estimated at around 200 million euros (approximately 298.4 billion KRW).

The forgers set up workshops across Europe, including Tuscany and Venice, to produce the forgeries. To deceive buyers into believing the works were genuine, they rented famous venues and created exhibition catalogs to hold shows.

The investigation began last year when the Pisa prosecutor's office seized 200 fake paintings, including forgeries of Italian painter Amedeo Modigliani, from a businessman. Subsequently, the investigation expanded to forged items sold at auctions throughout Italy, during which they uncovered organizations specializing in forgeries of Banksy and Andy Warhol. The forgers are currently under investigation in Italy, Spain, France, Belgium, and other countries.