New York art dealer charged with $30 million fraud

The art dealer was reportedly trying to sell fake copies of work by Jackson Pollack, among others.
The art dealer was reportedly trying to sell fake copies of works by Jackson Pollack, among others.

A New York art dealer was indicted Wednesday in connection with an alleged scheme to bilk two Manhattan galleries out of more than $30 million by peddling fake paintings purportedly created by world-renowned artists, federal prosecutors said.

Glafira Rosales, 56, was charged with wire fraud, money laundering, filing false tax returns and failing to report assets from a foreign bank account, according to the indictment in Manhattan federal court. If convicted on all charges, she faces a maximum prison sentence of 59 years, prosecutors said.

Rosales, who was arrested May 21, is scheduled to be arraigned on the charges Friday. Her lawyer did not immediately return a call for comment Wednesday evening.

Prosecutors said in court filings that Rosales sold more than 60 allegedly never-before-seen works of art from some of the most renowned artists of the 20th century, including Jackson Pollock, Mark Rothko and Willem de Kooning. In fact, the paintings were fake, and Rosales knew it, prosecutors alleged.

Prosecutors said Rosales claimed to represent a Swiss client or a Spanish collector, neither of whom existed, but instead kept most proceeds and transferred large sums to her boyfriend at the time.

Rosales also hid her income from the sales and failed to report at least $12.5 million in income on her taxes between 2006 and 2008, the indictment said. She also allegedly failed to report to U.S. tax authorities assets in a foreign bank account in 2010 and 2011.

“The indictment depicts a complete circle of fraud perpetrated by Glafira Rosales: fake paintings sold on behalf of non-existent clients with money deposited in a hidden bank account,” Manhattan U.S. Attorney Preet Bharara said in a statement.



News
Entertainment
Sports
Lifestyle
National

Dr. Dre is king of hip hop with…

With $620 million in estimated pre-tax earnings, veteran rapper and record producer Dr. Dre topped Forbes list as the highest paid hip hop artist, ousting Sean "Diddy" Combs from the…

News

Bin Laden son-in-law sentenced to life in U.S.…

A seemingly unrepentant Suleiman Abu Ghaith, a son-in-law of Osama bin Laden, was sentenced to life in prison on Tuesday in New York following his conviction on terrorism charges.

Local

Inside the UN Climate Summit

First Avenue was a sea of blue suits, black Suburbans and countless officers from multiple security agencies Tuesday as the United Nations representatives met to…

National

Bloomberg: Going green will grant you longer life…

Former NYC mayor Michael Bloomberg tells Metro that cities are where fighting global warming can make a difference, and increase people’s lifespan.

Television

Craig Ferguson wants you to see his new…

Craig Ferguson thinks his new game show will become "a comedy show in which a game is played and money is won."

Television

Anthony Anderson on dealing with your 'ish'

Anthony Anderson discusses finding the humor in his "Black-ish" family.

Gossip

Photos: See who Robert Pattinson was caught holding…

Robert Pattinson has a new girlfriend.

The Word

The Word: Kris and Bruce Jenner's predictably public…

They said it wouldn't last — mostly because of that separation almost a year ago. And now, more than a year later, Kris and Bruce…

Sports

Here's the 8 best and worst sporting goodbyes

With Derek Jeter set to retire following the 2014 Major League Baseball season, we look back at some of the great and not-so-great sporting goodbyes.

NFL

NFL Week 4 schedule (TV, kickoff, start time)

NFL Week 4 schedule (TV, kickoff, start time)

NFL

NFL Power Rankings: Seahawks at top, Bears and…

NFL Power Rankings: Seahawks at top, Bears and Steelers rise

NFL

3 things that went wrong in Jets loss…

The Jets have very little room for error with a far-from-explosive offense.

Home

NYC fall real estate hot list

The upcoming developments and areas everyone's buzzing about.

Style

Milan Fashion Week shows the best of Italian…

Metro rounds up the cut of the collections at Milan Fashion Week.

Tech

The 2014 Maker Faire saw robots, printers and…

Got a broken button maker? There’s a fix for that – and Tony Stanzione of the Fixers’ Collective says he can show you how.

Parenting

First look: Uniqlo's fall/winter 2014 kids collection

Get a sneak peek at Uniqlo's kids and babies fall/winter 2014 line.