The Market: Dealing from Park Avenue

Art frauds seem to be popping up all over. Only a week after the announcement that Texas Oilman Algur Meadows owns 44 fakes (TIME, May 19), Manhattan District Attorney Frank Hogan disclosed the indictment of New York Dealer David Stein, 31, on 97 charges of counterfeiting and grand larceny. Stein may never have sold a painting to Meadows, but according to the D.A.'s office, he painted, signed and faked the papers for 33 Chagalls, seven Picassos, and one Matisse, unloading them on five other collectors and seven dealers for $165,800. Among those who bought from Stein were Colonel Edgar...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!