Prosecutors Continue to Leak Rumors of Art Market Investigations

Bloomberg publishes another unsubstantiated report that government prosecutors are investigating art world transactions. Repeating the so-far unsupported rumor that the US Attorney is investigating Yves Bouvier, Bloomberg says the Manhattan DA is looking at Gagosian after a series of civil suits.

In both instances, the press reports have not been confirmed by attorneys for the parties said to be under scrutiny:

The Manhattan District Attorney’s office has begun an inquiry into possible criminal misconduct by Larry Gagosian over his disputed purchase of the famed 1931 artwork known as “Bust of a Woman,” according to people familiar with the matter. […]

Federal prosecutors are looking into the actions of another renowned art dealer, Yves Bouvier, for possible wrongdoing in a number of art sales, people familiar with that inquiry said last month. Bouvier has denied wrongdoing. Though accusations fly, criminal actions have been rare in the art community, outside tax evasion and outright fakes.

Gagosian Attracts NY Scrutiny Over Picasso Deal for Leon Black  (Bloomberg)