Italian Police Uncover $212 Million USD of Fake Art in Forgery Ring Bust

Authorities have seized over 2,100 works including counterfeits of Banksy, Picasso and dozens of others.

Art
1.4K 0 Comments

Italian police have uncovered a pan-European forgery ring responsible for producing and selling counterfeit artworks attributed to dozens artists including Pablo Picasso, Andy Warhol, Salvador Dalí and Banksy. As of November 11, the Carabinieri art squad and Pisa’s prosecutor’s office have announced that 38 individuals are currently under investigation for forgery, handling stolen goods and illegal art sales.

The investigation, codenamed “Operation Cariatide,” began in March 2023 when Italy’s art police confiscated 200 fake pieces, which included a Modigliani caryatid, from a businessman in Pisa. More recently, a string of suspicious online auctions led investigators to uncover the forgery network and six of their workshops – two in Tuscany, one in Venice and three abroad – where the replicas were created and stored, before landing in compliant auction houses. In total, authorities seized more than 2,100 fake artworks, with an estimated value of around $212 million USD, before they could hit the market.

Of the dozens of forged artists, the counterfeiters had their eyes on Banksy. Before they were caught, the suspects staged two exhibitions of the artist’s “work” at esteemed venues near Venice and Tuscany in order to boost credibility. On the heels of Monday’s bust, chief prosecutor Teresa Angela Camelio and experts from the Banksy archive praised the operation as “the biggest act of protection of Banksy’s work.”

The fakes have not only been seized, but many of them are now on display at the Palazzo Toscanelli in Pisa through November 15, 2024, offering the public a glimpse into the scale of the operation and the not-so-hidden world of forged art.

Read Full Article

What to Read Next

War Unfolds in Middle-Earth in Season 2 of ‘The Lord of the Rings: The Rings of Power’
Entertainment

War Unfolds in Middle-Earth in Season 2 of ‘The Lord of the Rings: The Rings of Power’

Premiering on Prime Video on August 29.

Ruby Slippers Worn by Judy Garland in 'The Wizard of Oz' Auctions for $28 Million USD
Entertainment

Ruby Slippers Worn by Judy Garland in 'The Wizard of Oz' Auctions for $28 Million USD

The most expensive entertainment memorabilia to ever be auctioned.

'Joker: Folie à Deux' Box Office Stumble of $40 Million USD Opening Is No Laughing Matter
Entertainment

'Joker: Folie à Deux' Box Office Stumble of $40 Million USD Opening Is No Laughing Matter

After earning the lowest CinemaScore ever by a comic book film.


Missy Elliott Becomes Third-Ever Female Rapper To Make over $2 Million USD in One Concert
Music

Missy Elliott Becomes Third-Ever Female Rapper To Make over $2 Million USD in One Concert

A testament to her legendary status.

2025 Pirelli Calendar Stars Hunter Schafer, John Boyega and More
Fashion

2025 Pirelli Calendar Stars Hunter Schafer, John Boyega and More

Lensed by Ethan James Green.

Behind the Hype: How Alpha Industries' MA-1 Bomber Soared from Military Gear to Fashion Icon
Fashion 

Behind the Hype: How Alpha Industries' MA-1 Bomber Soared from Military Gear to Fashion Icon

Presented by Alpha Industries
Uncovering the 60-year cultural impact of the MA-1, from Hollywood to punk, hip hop, and beyond.

The Weeknd and Apple Announce "Open Hearts" Listening Experience for Apple Vision Pro
Music

The Weeknd and Apple Announce "Open Hearts" Listening Experience for Apple Vision Pro

The immersive ‘The Weeknd: Open Hearts’ experience lands this Thursday.

Denim Tears Joins The Met for "Knowbody Nose" Capsule
Fashion

Denim Tears Joins The Met for "Knowbody Nose" Capsule

Celebrating the museum’s ‘Flight Into Egypt: Black Artists and Ancient Egypt, 1876-Now’ exhibition.

Fear of God Opens Up Its ESSENTIALS Holiday 2024 Lookbook
Fashion

Fear of God Opens Up Its ESSENTIALS Holiday 2024 Lookbook

Connecting collegiate style codes with high-end Fear of God flavor.


Footwear is a Fine Art in 'Art/Wear: Sneakers x Artists'
Art

Footwear is a Fine Art in 'Art/Wear: Sneakers x Artists'

A magnetic display of artists and sneaker collaborations.

Brooks and Saturdays NYC Unveil a City-Inspired Collaboration
Footwear 

Brooks and Saturdays NYC Unveil a City-Inspired Collaboration

Presented by Brooks
The two brands reveal a revamped version of the Ghost 16 road running shoes inspired by New York City and nature.

Porsche Unleashes New 690 Horsepower Taycan GTS
Automotive

Porsche Unleashes New 690 Horsepower Taycan GTS

Alongside a GTS Sport Turismo and Taycan 4 — brining the total models in the family to 16-versions.

Chopard’s New Jewelry Capsule Is Modern-Day Minimalism at Its Finest
Fashion 

Chopard’s New Jewelry Capsule Is Modern-Day Minimalism at Its Finest

Presented by Chopard
Check out the Ice Cube pieces adorned by Bella Hadid in the latest campaign.

Step Inside Some of the Most Impressive Italian Houses in This New Book
Design

Step Inside Some of the Most Impressive Italian Houses in This New Book

“Italian Interiors” sees writer Laura May Todd document the breadth of the country’s home decoration styles.

More ▾