Tuesday, October 26, 2010

Man get 5years in prison for art scam

A federal judge has sentenced a Woodland Hills man to five years in prison for his attachment in a fake art scam that cheated about 10,000 people all over the country.

Fine Art Treasures appeared weekly on Direct TV between 2002 and 2006. Sixty three year old James Mobley was the loud, frenetic Auctioneer Jimmy who hawked Picasso all over the world. Investigators found that the signatures were still wet and that the auction bids were rigged to inflate prices. Lots of people with disposable cash couldn’t resist. Prosecutors say the scam brought in about $20 million.

This year the two people at the center of the fake art scam a husband and wife from La Canada who’d printed the art in their own shop received sentences of four and seven years in federal prison.

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