East Dennis Antiques
However, the division did discover evidence of cash laundering in the excessive-value artwork market. A widespread theme is that criminals use shell companies to buy artwork and hide behind a corporate veil. The foremost on-line useful resource to purchase, promote, and collect antiques, nice arts and collectibles. WASHINGTON — Fine art isn’t just good to take a look at — it’s also engaging to criminals attempting to launder money, finance terrorism and trade illegal medicine and arms. And the Treasury Department desires art sellers and financiers to do something about that. The report cites Brazilian authorities’ seizure of former financial institution owner Edemar Cid Ferreira’s multimillion dollar artwork collection, after he was found to have unlawfully taken bank funds to purchase the artwork. A painting by Jean-Michel Basquiat referred to as “Hannibal,” in addition to a Roman Togatus statue had been illegally smuggled into the United States in violation of customs regulation.
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