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smith partner art investment firm 11m fraud 2568860

Smith and Partner, a London-based art investment firm, has been accused of defrauding over a thousand investors out of $11 million through a scheme involving high-pressure sales of limited edition art prints with promises of future returns that rarely materialized. The company, founded by Austrian citizen Peter Paul Adam in 2015, faced complaints from 2020 onward, leading to its bank freezing accounts and an investigation by British Trading Standards. Liquidators are seeking $17 million in compensation, and a High Court judge has upheld asset freeze orders against former director Luke Sparkes and his company Zeno Fine Art, which allegedly inflated print prices by nearly 500 percent.

article news schedule Jun 27, 2025 visibility 11 link 2 artists

Key player in Norval Morrisseau forgery ring pleads guilty

James White, a central figure in a long-running forgery ring producing fake artworks by Indigenous Canadian artist Norval Morrisseau, pleaded guilty in Ontario Superior Court to creating forged documents and trafficking forged artworks. White admitted to trafficking 502 fake works, some sold for tens of thousands of dollars. The plea follows a multi-year investigation called Project Totton, led by Inspector Jason Rybak of the Thunder Bay Police Service, which uncovered three large forgery networks operating in Ontario. Two other alleged accomplices, Paul Bremner and Jeffrey Cowan, still face charges, while earlier guilty pleas from David Voss and Gary Lamont resulted in five-year prison sentences.

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