Erdal Dere, Antiquities Fraud, New York 2022

Manhattan Antiquities Dealer Arrested for Years-Long Fraud Scheme

ERDAL DERE, the owner and operator of Fortuna Fine Arts Ltd., was arrested at his residence in New York on [approximately 2015 through September 2020] for his alleged involvement in a years-long scheme to defraud buyers and brokers in the antiquities market.

According to the allegations in the Indictment, DERE and his longtime business associate and co-conspirator, FAISAL KHAN, falsified provenances to offer and sell antiquities, claiming deceased collectors were the prior owners of items being sold and offered for sale.

DERE is also charged with aggravated identity theft for misappropriating the identities of deceased collectors who were falsely represented to be the prior owners of the antiquities.

The FBI's Art Crime Team, with the assistance of local law enforcement, uncovered the scheme, leading to the arrest of DERE and KHAN.

Acting U.S. Attorney Audrey Strauss stated, "The integrity of the legitimate market in antiquities rests on the accuracy of the provenance provided by antiquities dealers, which prevents the sale of stolen and looted antiquities that lack any legitimate provenance."

DERE, 50, of New York, New York, was charged in the Indictment with wire fraud conspiracy, wire fraud, and aggravated identity theft. The wire fraud conspiracy charge carries a maximum prison term of 20 years.

The case is ongoing, and anyone who may have dealt with DERE or KHAN is advised to contact the FBI at NYArtCrime@fbi.gov. You may have been a victim of their alleged scheme.

DERE is currently being held without bail and is expected to be presented before U.S. Magistrate Judge Sarah Netburn.

Source: https://www.justice.gov/usao-sdny/pr/antiquities-dealers-arrested-fraud-scheme