Seven charged in vast international fake prints fraud

Chicago, Northbrook USA

Three European and four Americans have been charged following the breaking of two international rings involved in the manufacture and distribution of fake 20th century prints.

In the larger of two cases the so-called 'European indictment' five people face ten counts of fraud relating to the import of forgeries from Europe and the import of forgeries from Europe and the channeling of them through a Chicago dealer who provided certificates of authenticity. Most were copies of original limited-edition prints by the likes of Picasso, Chagall, Lichtenstein, Miro and Dali and sold for up to $50,000 (£25,000) each.

So large was the scam that it is thought 25000 counterfeit Alexander Calder prints and 600 counterfeit Chagall's alone were issued. Prosecutors in the combined American/Spanish operation say the prints were trickled onto the market through galleries, fairs and eBay, between July 1999 and October 2007.