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$11.5M Picasso seized by U.S. authorities for Italy

By Associated Press

LAST UPDATED: 12:43 p.m. HST, Jun 24, 2013

NEW YORK » A New York federal judge has agreed that the U.S. government can hold a 1909 Pablo Picasso painting titled "Fruit bowl and cup" for the Italian government.

The painting estimated to be worth $11.5 million was held by Justice Department authorities after a Manhattan judge signed an order today.

U.S. Immigration and Customs Enforcement in Washington said in a release that Italian authorities requested the seizure. The agency said the request came after the painting's owner was charged with embezzlement and fraudulent bankruptcy offenses in Italy.

Authorities said Homeland Security agents seized the painting on May 21 when it was being offered for private sale for $11.5 million.

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cojef wrote:
Oops, someone made a boo-boo in trying to fence some hot merchandise. Visited Picasso Museum in Malaga, Spain and did not care for his style of painting.
on June 24,2013 | 02:13PM
IAmSane wrote:
"Meh, I could draw that."
on June 24,2013 | 07:23PM
noheawilli wrote:
Well was it stolen? Looks like he was the rightful owner but Italy seems to equate charges with guilt and our leviathan seems to agree. Property seizure is a scary over reach of the power hungry.
on June 24,2013 | 02:38PM
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