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Art

When one of the oldest and most respected art galleries in America, the Knoedler Gallery in New York, closed its doors abruptly in 2011, the art world was stunned. Not because the gallery closed, but by the discovery that over the course of 15 years, the gallery and its president, Ann Freedman, had sold millions of dollars in forgeries to wealthy collectors.

Nearly 40 paintings, supposedly created by some of the most important artists of the 20th century, were all fakes, painted by a struggling artist in his garage in Queens. The fraud might still be going on if it weren't for an art historian Jack Flam -- who was the first person to uncover the scheme and blow the whistle to the government, putting the brakes on an $80 million con -- the most audacious and lucrative art fraud in U.S. history.

Screen Shot 2016 05 23 at 06.33.51Art Historian Jack Flam | Image Courtesy CBS News

At the center of the story are these seven paintings that sold for more than $3.5 million. They're known as "Spanish elegies" and were supposedly created by the artist Robert Motherwell.

To read the whole script:

www.cbsnews.com 

Screen Shot 2016 05 04 at 22.00.50

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AAD REPORTS

AAD REPORTS   Reports, news and opinion from Art-Antiques-Design.com
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