Guilty Pleas in Basquiat Artwork Fraud Scheme

Former Los Angeles auctioneer Michael Barzman has agreed to plead guilty in a cross-country art fraud scheme where he created fake artwork and falsely attributed the paintings to artist Jean-Michel Basquiat. The paintings ultimately wound up at the Orlando Museum of Art in Florida before they were seized by federal agents last year. Barzman admitted that he and another man had created the bogus paintings and agreed to split the sales’ proceeds. He faces up to five years in prison.