Art dealer Giuseppe Concepcion was arrested in Miami this Friday on charges of wire fraud and interstate transportation of stolen property. Between 2005 and 2006, Concepcion sold forgeries of works by celebrated artists at Proarte, a Miami gallery with a sister site in New York.
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Concepcion allegedly acquired the original works and then commissioned forgeries. One patron paid $180,000 -- in the form of $120K cash and a Bentley -- for a purported Alexander Calder painting. If convicted, Concepcion could face up to 30 years in prison, but of course his defense attorney is confident he'll be acquitted.