Brian R. Walshe, Andy Warhol Painting Scam, Massachusetts 2018

Lynn Man Indicted in Connection with Missing Warhol Paintings

Brian R. Walshe, a 43-year-old man from Lynn, Massachusetts, has been indicted for his involvement in a Warhol painting scam. According to the indictment, Walshe sold two Andy Warhol paintings on eBay, claiming they were authentic and worth $100,000. However, it was later discovered that the paintings were fake and Walshe had attempted to sell them for a profit.

Walshe was arrested in May 2018 and charged with one count each of wire fraud, interstate transportation for a scheme to defraud, possession of converted goods, and unlawful monetary transaction. The indictment alleges that Walshe gained access to the paintings through a friend, who had purchased them from a gallery. Walshe then attempted to sell the paintings on eBay, claiming they were authentic and offering them for sale at a discounted price of $80,000.

The buyer, who had purchased the paintings through eBay, became suspicious when he discovered that the paintings did not have the authentication stamps that are typically found on authentic Warhol works. The buyer then removed the frames from the paintings and found that the canvases and staples were new, leading him to believe that the paintings were fake.

Walshe had initially told the buyer that he would refund the $80,000 payment, but he failed to do so. The buyer then attempted to contact Walshe, but he did not respond. It was later discovered that Walshe had deposited the $80,000 payment into his bank account and had withdrawn $33,400 in cash.

The indictment also alleges that Walshe had attempted to consign the Warhol paintings to a gallery in New York City, but the gallery declined to accept the paintings because Walshe did not have a bill of sale.

Walshe faces a maximum sentence of 20 years in prison, three years of supervised release, and a fine of $250,000 for the charge of wire fraud. He also faces a maximum sentence of 10 years in prison, three years of supervised release, and a fine of $250,000 for the charges of interstate transportation for a scheme to defraud, possession of converted goods, and unlawful monetary transaction.

Source: https://www.justice.gov/usao-ma/pr/man-indicted-connection-missing-warhol-paintings