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Los Angeles Art Dealer Accused of Fraud

FBI Investigators targeted a Los Angeles art dealer for selling a Pablo Picasso painting, “La Femme Au Chapeau Bleu,” to an art collector for $2 million. According to a federal criminal complaint filed in district court, the art dealer purportedly arranged to have the painting recreated by an art restorer, and then sold the painting as original to a collector. James Spertus successfully defended the art dealer against these charges and obtained probation in a $2 million real loss case.