Art Dealer arrested in Australia's largest art scandal

After a two-year investigation, Ronald Coles, an Australian art dealer who claimed an annual turnover of $20 million has been arrested after declaring himself bankrupt and disappearing. Charged with 87 offences relating to his art fraud scheme, experts have opinioned that this is ‘Australia's largest-ever art scandal’ and ‘threatens to destroy trust in the local industry for years.’
At least 43 clients have come forward over the last two years after discovering that the art they thought they owned was either a forgery or was co-owned with four or five other people. Coles also allegedly sold 30 paintings without the consent of the owners of the works. Coles has been charged with 77 counts of larceny and 10 counts of fraud as an art dealer. He faces up to ten years in jail.