$80 millionin forged paintings before one gallery collapsed
A 165-year-old New York gallery sold almost 40 forged paintings between 1994 and 2011, a scandal that brought in roughly $80 million before it collapsed.
M. Knoedler & Co., founded in New York in 1846, closed permanently in November 2011 after the paintings, attributed to artists including Pollock, Rothko and de Kooning, were exposed as fakes painted in a Queens garage.
Source: Wikipedia. Read more: art forgery fraud · case file