NY Art Dealer Cops To $80M Fraud Selling Fake Works

Law360, New York (September 16, 2013, 6:47 PM EDT) -- A New York art dealer on Monday admitted to selling dozens of pieces of phony artwork that she claimed were made by famed 20th century artists, a fraud that cost art collectors more than $80 million.

Glafira Rosales, 57, pled guilty to nine counts of fraud, conspiracy, money laundering and tax evasion at a hearing in Manhattan federal court before U.S. District Judge Judge Katherine Failla.

Prosecutors say Rosales sold more than 60 paintings to two galleries in Manhattan for about $33 million, claiming they were...
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