David J. Crespo, a Connecticut art dealer, was indicted on 12 counts of fraud for about $225,000 in fraudulent sales of Picassos and Chagalls.
According to the Hartford Courant:
The FBI arrested David J. Crespo, owner of the Brandon Art Gallery on the Boston Post Road, in April for selling so-called Picassos. The indictment formalizes the charges and adds additional frauds involving the Chagalls, one of which Crespo, 58, allegedly sold to an undercover FBI agent.
In addition to allegedly selling “cheap reproductions as originals or signed lithographs,” Crespo is accused of fabricating documents authenticating the phony works.