Italian police have dismantled a European forgery network specializing in counterfeit artworks by prominent artists such as Andy Warhol, Pablo Picasso, and Banksy.
Although these artifacts were imitations, their estimated market value could have reached €200 million, according to DPA.
Arrest warrants were issued for 38 suspects in Italy, Spain, and Belgium, who now face charges related to handling stolen goods, forgery, and the sale of counterfeit art. Among the over 2,100 seized items were numerous sculptures, as reported by Italy’s Carabinieri art crime unit.
The network, which largely focused on reproductions of Warhol’s and Banksy’s works, was uncovered after police seized over 200 counterfeit artifacts from a dealer in Pisa, including a replica of Caryatid by Amedeo Modigliani. This discovery led authorities to additional forgery workshops, DPA reports.
The confiscated works also included replicas of pieces by Gustav Klimt, Marc Chagall, Claude Monet, Paul Klee, Vincent van Gogh, and Salvador Dalí. Police added that the forgers had arranged deals with auction houses, and some of the replicas had already been sold through these channels, according to Carabinieri.
