Fake Picasso: California Dealer Charged With Selling Phony Painting

LOS ANGELES — A West Hollywood antiques dealer has been charged with selling a phony Picasso for $2 million.

Federal prosecutors said Friday that 69-year-old Tatiana Khan was charged with wire fraud and other crimes. She's free pending arraignment but could face 45 years in prison if convicted.

A call to her lawyer wasn't immediately returned.

Prosecutors contend Khan paid an artist $1,000 in 2006 to duplicate a Pablo Picasso pastel called "The Woman in the Blue Hat" and sold the forgery for $2 million.

The FBI stepped in last year after the buyer had the work examined and learned it was a fake.

On Friday, FBI agents seized a genuine Willem de Kooning painting from Khan. Authorities claim she bought it for $720,000 using proceeds from the Picasso sale.

Comments

[Bearangaria]

12:51 PM on 01/11/2010

Geez...Even I can tell that's no Picasso.
Did the buyer even look at this thing?

[BlueZoo]

09:10 AM on 01/09/2010

The onus, as always, is on the buyer. Caveat Emptor! With all the ways to check the provenance of artwork these days, the buyer was completely ignorant and deserving of being taken for a ride. I'm sorry but if you have millions, you do your own research before handing over the money. The buyer should be fined for stupidity! btw: I didn't do an in depth search but I did find the real painting sold in 1984 for $4.2M and was sold by Christies. Uh...25 years ago and today it is worth half that price? What a red flag! One simple phone call to the auction house would have sufficed.

[Gerahufff]

01:11 AM on 01/10/2010

As someone who has worked in the art world, I know that many deals get done in private. And many collectors, especially in the world of antiquities continue to buy fakes and don't want to spend the money on the research which can run in the tens of thousands of dollars. But, this case is remarkable since the painting is not an obscure forgotten Picasso that couldn't be easily found in a catalogue raissoné. I must say, however, that if dealers were only slapped on the wrist, believe you me, fraud would be even more prevalent.

[arfaa]

08:45 AM on 01/11/2010

Having been a art dealer for 20 years I must correct you. The onus is ALWAYS on the dealer, that is why are paid to do what we do. It is never Caveat Emptor, and should never be when working with an art dealer or an art consultant. Caveat Emptor only comes into play when buying at auction, be it Ebay or Sotheby's. But I will give you a "trust yet verify" policy when entering into a transaction with a dealer. Check their references, ask a lot of questions and yes, do your research.

[BlueZoo]

12:56 PM on 01/11/2010

While the onus may be on the dealer, anyone who forks over monies without doing their own research is foolish at best and stupid at worst. When even the major auction houses like Sotheby's and Christies have been taken, I hardly think it wouldn't apply to individual dealers as well, even experienced and long-time dealers. btw: It is ALWAYS Caveat Emptor!

[Theda]

07:40 PM on 01/08/2010

45 years in prison seems a bit extreme. Many rapists and murderers don't get that harshly punished.