Hedge Funder Pierre Lagrange Claims to Have Purchased $17 Million Fake Pollock

Bullet Shih Jan, 2012 0
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jackson pollock poto by wallyg via flickr

A real contemporary art mess photo by wallyg via flickr

According to The Art Newspaper, Pierre Lagrange who was listed as one of Wall Street’s most powerful art collectors has recently filed a complaint that Ann Freedman, the embattled former director of the recently shuttered Knoedler Gallery sold him a fake Jackson Pollock painting for $17 million in 2007.  The Knoedler Gallery made headlines last year when salesman Julian Weissman was found guilty of selling a fake Motherwell to highend dealer Marc Blondeau for $600,000 also in 2007.  Aside from Lagrange, the case also has entanglements with Jaime Frankfurt, a contemporary dealer who was once an assistant at Warhol’s factory and Londoner Timothy Taylor.  Both men were named as intermediaries for the sale.  The scandel appears like it will get much uglier before it is finished as the article in The Art Newspaper states that the Feds are looking into “possible forgeries of works by artists including Mark Rothko, Willem de Kooning, Clyfford Still, Franz Kline, Richard Diebenkorn and Barnett Newman.”  If some of these paintings also turn out to be fakes, the total tally from the scam will certainly exceed $100 milion.  Stay tuned.


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