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david nahmad denies modigliani nazi loot

Art collector David Nahmad has publicly denied allegations that Amedeo Modigliani’s "Seated Man with a Cane" (1918) is Nazi-looted property. Following revelations from the Panama Papers that Nahmad is the true owner of the painting via the International Art Center, he defended his provenance, claiming the work sought by the heirs of Jewish art dealer Oscar Stettiner is a different painting entirely. Nahmad asserted that if the work is definitively proven to be looted, he will return it, but he currently maintains that the historical documentation regarding a 1944 sale at Drouot refers to a self-portrait, not the work in his possession.

32 million klimt sale falls through

The record-setting $32 million sale of Gustav Klimt's "Portrait of Fräulein Lieser" (1917) has fallen through after a restitution settlement failed to resolve gaps in its provenance. The painting, discovered in early 2024 and sold at Im Kinsky auction house in Vienna to an anonymous Hong Kong buyer in April, was mired in controversy over its history during the Nazi era. The work's whereabouts between 1925 and 1961 were unknown, a period including Austria's annexation by Nazi Germany. The auction house proposed the work was commissioned by Henriette Lieser, who was deported and murdered at Auschwitz, but conflicting theories about the sitter's identity and the painting's path through a Nazi party member's family complicated restitution efforts. A new potential legal heir emerged after the sale, and the buyer ultimately pulled out.

man indicted stolen andy warhol print vladimir putin fbi

An owner of a pawn shop in Los Angeles, Glenn Steven Bednarsh, has been indicted on federal charges of conspiracy and interstate transportation of stolen goods for allegedly conspiring to sell a stolen Andy Warhol trial proof print of Vladimir Lenin. The print, a unique 1987 screenprint from an edition of 46, was purchased by Bednarsh for $6,000 in February 2021. He then enlisted co-conspirator Brian Alec Light to help sell it through Heritage Auctions. The scheme unraveled when a gallerist identified the work as stolen, leading to FBI involvement. Light has already pleaded guilty, and Bednarsh faces arraignment in the coming weeks.