An interesting story from the Chicago Tribune; unfortunately, no details present as to the nature of the fraud (full story here). Obviously, there are some significant parallels between the original prop hobby and the art world, in terms of inauthentic pieces being sold as authentic, so I think it is important to follow some of these newsworthy developments as a point of reference. Having said that, as noted, there are no details present in the story as to the nature of the fraud, so it could be unrelated to issues of authenticity. However, involvement of U.S. postal inspectors would lead one to believe it could have to do with actual transactions with customers. I would imagine that one possible reason to remove actual works would be for off-site analysis.
Art gallery raided in fraud probe; dozens of works taken from River North shop
Dozens of works removed in fraud investigationBy Karoun Demirjian and Jeff Coen | Tribune reporters
February 1, 2008U.S. postal inspectors and FBI agents raided an art gallery in Chicago’s River North neighborhood Thursday as part of an ongoing investigation into art fraud, authorities said.
Agents carried several dozen prints and other pieces of artwork out of the Kass/Meridian gallery, which is on the third floor of an office building at 325 W. Huron St.
There were no arrests made during the raid, FBI spokesman Ross Rice said.
The floor of the Kass/Meridian gallery was strewn with packing supplies, as inspectors went in and out of the building, carting prints and other pieces of artwork out to vans on the street outside. The store was closed as of Thursday afternoon.
Owners Alan and Grace Kass-who did not respond to requests for comment-opened the gallery in 1986 and specialize dealing in contemporary and 20th century prints, paintings and sculptures. Much of their inventory is featured online.
Building employees who arrived early to work Thursday said they began to see authorities congregating outside the gallery shortly after 8 a.m., counting about 6 to 10 officials with suitcases and packing boxes in tow, waiting to get in.
“We saw the FBI come in, and then leave with some banker’s boxes and some art,” said Christine Williams, who works at Goodman Williams Group Real Estate Research, which is across the hall from Kass/Meridian.
Williams said she had never seen signs of trouble at the gallery before. “There are a lot of businesses like that in this neighborhood-this is a gallery district,” Williams said. “But we rarely saw people coming and going.”
Law enforcement authorities would not comment on the specifics of the investigation.
Jason De Bord