July 14, 2014

Kunsthal Rotterdam: Romanian court instructs convicted art thieves to repay insurers $26 million for paintings

Lucian Freud's "Woman with
Eyes Closed" (2002)
by Catherine Schofield Sezgin, ARCA Blog Editor

The AFP reported in "Art thieves ordered to pay millions over missing Picasso, Monet, Gauguin and Freud masterpieces" that the four convicted thieves who robbed the Kunsthal Rotterdam in October 2012 must pay 18 million euros ($26 million) to the paintings' insurers (unnamed):
Seven paintings that were temporarily on display at the Kunsthal Museum in Rotterdam were stolen in 2012 in a raid that lasted only three minutes, in what the Dutch media called "the theft of the century". A court in the Romanian capital ordered the heist's mastermind, Radu Dogaru, his mother Olga, Eugen Darie and Adrian Procop to reimburse the paintings' insurers. Prosecutors put the total value of the haul at over 18 million euros, while art experts at the time of the heist had claimed the paintings were worth up to 100 million euros. Olga Dogaru had previously told investigators that she burned the paintings in her stove in the village of Carcaliu in eastern Romania in a bid to protect her son when he could not sell them. She later retracted the statement, but a separate investigation is under way to determine if the masterpieces did end up in ashes.
In September 2013, Andrew Higgins for The New York Times reported that the Triton Foundation received $24 million from the underwriter (Lloyd's of London) that insured the stolen paintings in exchange for relinquishing title to the artworks.

Paul Gaugin, "La Fiancée"
Here's a look at the paintings stolen from the Triton Foundation.

The Kunsthal Rotterdam reopened Feb. 1, 2014 after an extensive renovation.

Art theft 'ringleader' convicted in November 2013 and given 6 1/2 year prison sentence; ringleader claims inside help. Three defendants pled guilty in October 2013.

Earlier, in August 2013, a defendants' lawyer claimed that five paintings could be returned if the trial was moved from Romania to The Netherlands.

In July 2013 Andrew Higgins for The New York Times wrote about Facebook's role during the sting operation and how the content from the social media site was used to identify suspects involved in the art theft. The New Yorker blogs that mother of suspect burned paintings. Said mother denies destruction of art; Budapest trial announced; and journalists try to figure out if paintings were actually incinerated.

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