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American Greed Podcast

Artistic License to Steal

American Greed Podcast

CNBC

True Crime, Documentary, Tv & Film, Society & Culture

4.61.9K Ratings

🗓️ 16 January 2024

⏱️ 41 minutes

🧾️ Download transcript

Summary

A wannabe art dealer sells fake works by American masters of Abstract Expressionism in an $80 million scam, fooling rich collectors and pocketing millions. (Original air date: 8/20/2018)

Transcript

Click on a timestamp to play from that location

0:00.0

This is the American Greed Podcast presented by

0:02.8

C and BC. I'm Stacy Keach.

0:07.3

In this episode of American Greed,

0:09.9

Glifiro Rosales is a novice to the New York art scene, but she has all the right moves.

0:17.0

She really played the relationships right.

0:20.0

She says she holds the key to a treasure trove of never before seen masterpieces.

0:26.0

Jackson Pollack with famous drip paintings, Mark Rothko, Robert Motherwell.

0:31.0

These are paintings that go for millions of dollars each.

0:35.0

A tale with enough mystique to draw a millionaire buyer.

0:39.0

Collectors are greedy for recognition and for artwork that lends them prestige.

0:47.0

But before you open your wallet, you may want to look twice.

0:51.0

Every aspect of the story behind those paintings was a red flag.

0:57.0

It turns out skilled forgers know how to splash paint too.

1:01.0

Guilferral Rosales, he was able to take 63 paintings, get 33 million dollars out of them,

1:07.6

and then the gallery sold them for 81 million dollars.

1:11.5

And Glfiro Rosales is a modern master in the art of the Khan.

1:17.0

The experts believed that collectors bought it. It was auctioned off by big auction houses.

1:22.0

I mean this woman was sitting on top of the world. teaming with galleries, museums, and hundreds of art dealers,

1:50.0

New Yorkers, New Yorkers work hard to keep their art capital booming.

1:55.0

So in 2011, when one of New York's most venerable

2:02.0

suddenly closes its doors,

2:05.0

the art world is in shock.

...

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