Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Parmalat Art Seized

December 5, 2009 by Marion Maneker

Parmalat Art SeizedThe BBC reports that Italian authorities raided houses belonging to friends of Calisto Tanzi, who went to jail in a multi-Billion dollar fraud earlier this decade:

Officials said the artwork had been offered to buyers and that authorities had had to work quickly to seize it before it was sold. They said they had tracked down the trove of pictures using phone interceptions, following an investigative TV programme that was broadcast last weekend.

Parma Prosecutor Gerardo Laguardia, speaking on Italy’s Sky TG24 TV, said: “We got lucky. We learned that there were negotiations under way to sell one of the paintings”. Some of the phone calls involved discussions about selling some art to a Russian billionaire, Italy’s Ansa news agency reported. Monet’s Cliff Walk at Pourville was about to be sold for 10m euros ($14.8m; £9m), Ansa added.

Among the pictures seized were a drawing of a ballerina by Degas, a tree trunk by Van Gogh, a Picasso still life, and a self-portrait by Antonio Ligabue. […] The 19 paintings and drawings, including works by Picasso, Monet and Van Gogh, are worth more than 100m euros (£90m), financial police said.

Parmalat Founder Calisto Tanzi’s Art Seized (BBC News)

More from Art Market Monitor

  • Indian Art Summit Joins Global Art Fair CircuitIndian Art Summit Joins Global Art Fair Circuit
  • Sotheby’s Photographs Online Sale Reaches $3M, Led by Moholy-Nagy PhotogramSotheby’s Photographs Online Sale Reaches $3M, Led by Moholy-Nagy Photogram
  • Previewing the VIP Art FairPreviewing the VIP Art Fair
  • British Painting Prodigy Investing In ArtBritish Painting Prodigy Investing In Art
  • Ségalot Swoops In On PompidouSégalot Swoops In On Pompidou
  • Entry-Level Picasso Sells for $45mEntry-Level Picasso Sells for $45m

Filed Under: Fraud, Theft & Restitution

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...