Forgery Ring Discovered in Italy

The BBC and ANSA are reporting that a forged art ring has been discovered by authorities after an 18 month investigation.  The investigation was conducted by monitoring payment transfers and consulting art historians.  Works recovered include forgeries of works by Matisse and Magritte.  There are more than 500 counterfeit works, which may have cost buyers close to 9 million euros. 

1. Italy seizes counterfeit artwork, BBC, August 25, 2010, http://www.bbc.co.uk/news/world-europe-11088475 (last visited Aug 25, 2010).