Saturday, November 28, 2015         

 Print   Email   Comment | View 3 Comments   Most Popular   Save   Post   Retweet

$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.

 Print   Email   Comment | View 3 Comments   Most Popular   Save   Post   Retweet

You must be subscribed to participate in discussions

Latest News/Updates