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Art Dealer Refused Tax Refund on Fake Max Ernst Painting
One of the fake Max Ernst paintings created by forger Wolfgang Beltracchi. It sold for $7 million. Another brought $2.5 million.
New York art dealer Richard Feigen was denied a tax refund on the $2.5 million he paid for a forged artwork. A painting that Feigen bought as a 1920s work by surrealist Max Ernst turned out to be linked to German master forger Wolfgang Beltacchi.
Beltracchi was caught in his massive, global art scam in 2011 and is serving six years in prison for multiple forgeries. He admitted to faking Ernst works, leading to the discovery that Feigen's "Le Foret" was not the real thing. Feigen refunded his buyer $2.5 million, and was refunded himself by the Parisian art dealer from whom he bought it.
An administrative judge in New York ruled that the statute of limitations had passed on the transaction and no tax refund would be issued, according to state law. More than three years had passed since the deal was made and the tax paid in 2004. Feigen said he is likely to appeal.
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