NEW YORK (CBSNewYork/AP) — A Long Island man pleaded guilty Monday to selling fake works by that claimed to be by artists such as Jackson Pollock and Willem De Kooning.
The scheme cost art buyers about $2.5 million.
John Re, of East Hampton, pleaded guilty Monday to wire fraud in U.S. District Court in Manhattan.
Prosecutors said over the course of nine years, he lied about the authenticity of dozens of paintings, sketches and pastels. They said American artists Pollock and De Kooning were among names Re used to entice buyers.
The government said the 54-year-old Re then bought a submarine, the “U.S.S. Deep Quest.”
Purchased in Texas, the submarine’s potential sale is now blocked by the court to satisfy a $2.5 million forfeiture order.
He could face up to four years in prison at an April 10 sentencing.
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