A multi-national art forgery ring has been uncovered by Italian police, with 38 people under investigation for producing and selling fake works attributed to artists such as Banksy, Pablo Picasso and Andy Warhol.
The forgery ring, first reported by Reuters on Monday, spans at least four countries, including Italy, Spain, France and Belgium, and involved the seizure of more than 2,100 fake pieces with a potential market value of more than $200 million.
Experts from the Banksy archive who assisted with the investigation called it “the biggest act of protection of Banksy’s work,” referring to the authority's bust of forgery operations in six workshops across Europe.
According to Reuters, the investigation began last year when police seized around 200 fake works from the collection of a businessman in Pisa, Italy, leading to discoveries of further faked works that had passed through Italian auction houses.
Investigators said the suspects organized two Banksy exhibits, complete with a published catalog, in order to bolster their credibility.
Will Stern is a reporter and editor for cllct.