The First Art Newspaper on the Net Established in 1996 United States Sunday, December 21, 2014


Police Seize Stash of Masterpieces Belonging to Founder of Dairy Company Parmalat
An Italian tax police officers holds a Picasso painting, one of the 19 masterpieces which was seized in Parma, Italy, Saturday, Dec. 5, 2009Italian tax police have seized a secret attic and basement stash of Van Gogh, Picasso, Monet, Cezanne and other art works from the disgraced founder of Parmalat, the dairy company that collapsed a few years ago under billions of dollars of debt. Authorites estimated the total value of the works at more than euros 100 million. AP Photo/Marco Vasini.

By: Frances D'Emilio, Associated Press Writer

ROME (AP).- Italian tax police said Saturday that they had seized works by Van Gogh, Picasso, Cezanne and other giants of art in a crackdown on assets hidden by the disgraced founder of the collapsed dairy company Parmalat.

Authorities estimated the 19 masterpieces stashed away in attics and basements were valued at some euro100 million ($150 million).

Parma Prosecutor Gerardo Laguardia said that, based on wiretapped phone conversations, officials believed at least one of the paintings hidden by Calisto Tanzi was about to be sold.

"We got lucky. We learned that there were negotiations under way to sell one of the paintings" and raid three apartments in the area of Parma, near Parmalat's headquarters, Laguardia said in an interview on Italy's Sky TG24 TV. He didn't identify the painting.

Bologna-based tax Police Col. Piero Iovino told The Associated Press by telephone that investigators believed the entire batch of paintings, watercolors and drawings were up to be sold. The prospective buyer was a Russian, possibly living in Italy, Iovino said.

No arrests were announced as part of the art seizure.

Tax police said Parma prosecutors are opening a probe into alleged concealing of assets in Parmalat's bankruptcy case.

Parmalat, the dairy conglomerate known for its long shelf-life milk grew from a small dairy distributor in Parma, into a diversified, multinational food company by 1990, but collapsed in 2003 under euro14 billion in debt — eight times what it had previously acknowledged — in what remains Europe's largest corporate bankruptcy. Many small investors who lost their life savings were among some 40,000 defrauded bondholders.

Italian courts have already ruled that Tanzi bore the brunt of responsibility for the collapse. Tanzi was convicted by a Milan court last year of market-rigging and other charges in one of multiple probes. He is currently on trial for alleged fraudulent bankruptcy.

Tanzi has blamed the banks for the labyrinth of deals that helped swell the company to a global empire with operations in more than 30 countries, but also led to the company's collapse.

For years after the collapse, Tanzi was rumored to have had a "hidden treasure" somewhere. On Nov. 29, a state TV show alleged that Tanzi had hidden a collection of artwork to try to shelter himself from the effects of looming collapse of Parmalat.

"I don't have any secret cache" of paintings, Tanzi told reporters the next day on the sidelines of his current trial in Parma, repeating his ongoing dismissal of reports that he had a so-called "little treasure" of assets squirreled away.

A lawyer who represents Tanzi and serves as his spokesman didn't answer his cell phone Saturday.

Police showed some of the paintings to journalists near Parmalat's headquarters Saturday.

After the TV show, "we tightened the screws" and zeroed in on Tanzi son-in-law Stefano Strini, Iovino said. "He told us that the paintings were Tanzi's" and led police to the apartments, he said.

As the corporate failure loomed, Tanzi moved to safeguard his wealth by hiding "property whose value endures through time," Iovino said.

Among the masterpieces was a pencil on paper portrait of a ballerina by Degas, two Van Goghs, including a depiction of a trunk of a willow tree and a still life, a watercolor by Cezanne and a pencil-work by Modigliani.

Tax police official Massimo said some of the paintings were carefully wrapped for protection, but that other paintings, including a Picasso, were left open in the store room.

_____

Associated Press reporter Giovanni Fontana contributed to this report.



Copyright 2009 The Associated Press.


Italy | Van Gogh | Picasso | Cezanne | Gerardo Laguardia | Calisto Tanzi |




Last Week News

December 5, 2009

Police Seize Stash of Masterpieces Belonging to Founder of Dairy Company Parmalat

From Coal to Culture: Louvre Museum at Lens Site Inaugurated

Exhibition of New Work by Gerhard Richter at Marian Goodman Gallery

Rock and Roll Hall of Fame Annex in New York City Closing

Invited Work at the Museo del Prado: The Company of Captain Reijnier Reael

Major Outdoor Exhibition by Internationally Acclaimed Artist Yayoi Kusama

National Gallery of Australia Opens Exhibition of Post-Impressionist Art

Michael Graves Awarded Topaz Medallion for Distinguished Educator

Renowned Soviet-Era Statue by Vera Mukhina Back in View

D. Wigmore Fine Art Explores Black and White: The 1930s through the 1960s

National Gallery of Scotland Announces Impressionist Gardens

VMFA Acquires Painting by First African-American Artist to Win Acclaim

New Caribbean Art by 23 Artists Showcased during Art Basel Fair

Pugh + Scarpa Architects to Receive 2010 AIA Architecture Firm Award

6th Asia Pacific Triennial of Contemporary Art Opens in Australia

Christie's Expects to Break Auction Records with Rembrandt and Raphael Sale Next Week

Long-Lost Painting by John Sloan now on View at Detroit Institute of Arts

Tate and The British Council are to be the Joint Owners of Steve McQueen's 'Giardini'

Grand Rapids Art Museum Director Celeste Adams Resigns

UNESCO Saddened by Loss of Goodwill Ambassador Painter Ikuo Hirayama

December 4, 2009

Art Basel Miami Beach 2009: Eighth Edition of America's Most Prestigious Art Show Opens

Rare First Poe Book could Fetch Record at New York Auction

Rare and Important Works by van Dyck and Rubens to Lead Sotheby's Sale

Brooklyn Museum Announces New Egyptian Installation

Rome Unveils Ancient 1,800 Square-Meter Luxury Complex

Two Day Russian Art Sale at Christie's Totals $14,746,892

Tate Modern Announces "Arshile Gorky: A Retrospective"

2010 American Institute of Architects Gold Medal Awarded to Peter Bohlin

Now the Louvre and Versailles Closed by French Museum Strike

Lines of Art Blur Between Rembrandt and his Pupils at Exhibition

Treading the Bard: Shakespearian Shoes Go on Display

Exhibition of Portrait Prints by Rembrandt Opens at the Norton Simon Museum

Exhibition Links Works from S.M.A.K.'s Collection to Gagarin Magazine

Herbert Art Gallery & Museum in the Running for Prestigious Museum Award

Essl Art Award Prize Winners Open Exhibition in Vienna

12 Detained in Paris over Stolen Painting

Prices Skyrocket at Grisebach-Max Beckmann Painting Sells for 2,618,000 Euros

Clark Announces First Exhibition to Explore Picasso's Response to Degas

"Brangelina Forever" Inspires Harmony in Bedroom of $500K Home Built in Their 'Name'

Museum Acquires National Cotton Council and "Maid of Cotton" Program Documents

December 3, 2009

Royal Academy Presents New Work from More than 30 Leading Contemporary Artists

Many Premier Art Institutions in Paris Closed Due to Strike

Christie's Hong Kong Autumn 2009 Auction Series Totals US $212.5 Million

"ARTIST ROOMS 2010 Tour" Announced - 21 Exhibitions from Llandudno to Fort William

CityCenter in Las Vegas Features Unparalleled Fine Art Collection

Museo del Prado Focuses New Temporary Exhibition on Dutch Painting

ARCOmadrid_ 2010 to Showcase the Quality and Diversity in Contemporary Art

Andrew Wyeth Leads $32.3 Million Sale of American Art at Christie's

Rare Exhibition in Indianapolis Brings Together Spanish Sacred Art

Looted Artifacts Being Returned to Italy from New York City

First U.S. Survey of Contemporary Films from Lithuania to be Screened at MoMA

Spectacular Collection of Dresses on View at the National Gallery of Victoria

Peter Forakis, Originator of Geometry-Based Sculpture, Dies at 82

William Ansley Contemporary Art Glass Collection to be Auctioned

Nelson-Atkins Mourns Loss of Board Chair Harry C. McCray, Jr.

Museum in San Diego Announces New Qualcomm Grant to Continue Free Admission

Sale of George Washington Letter Could Set Record

High to Premiere New Exhibition of Works by American Photographer Peter Sekaer

Utah Museum of Fine Arts Appoints New Director of Development and External Relations

Bonhams Latest Canadian Art Sale Tops $1M

December 2, 2009

New Medieval and Renaissance Galleries Open at the Victoria & Albert Museum

Art Basel Miami Beach Galleries and Organizers Expect Collectors

A Child's Portrait, Looted During the War, is Returned to Its Owner

Andrew W. Mellon Foundation Awards the Frick Collection a $1 Million Grant

Two Newly-Discovered Still Lifes by Adriaen Coorte Soar Above Estimate

Sotheby's Week of Russian Art Sales Totals $31.9 Million

Large-Scale Sculpture by David Altmejd Acquired by Dallas Museum of Art

"Synecdoche", Watershed Work by Byron Kim, Installed at the National Gallery of Art

Huntington Names Its First Curator of American Decorative Arts

Art Madrid Announces 5th Edition to Open in February 2010

Museu d'Art de Catalunya Celebrates 75th Anniversary with Exhibition

Hauser & Wirth to Present Works by Jakub Julian Ziolkowski at Art Basel Miami

Ukrainian Museum Claims It Owns a Portrait of a Venetian Doge by Titian

Pirate Exhibit in Norfolk Taps into Pirate Craze

"Wisdom of the Mountain: Art of the Omie" at the National Gallery of Victoria

Norman Rockwell Headlines December American Paintings, Drawings, and Sculpture Sale

Conner Contemporary Art Announces Leo Villareal Commissioned by Tampa Museum

Brilliant Prices Achieved at Sotheby's Contemporary Art Sale in Milan

New York Academy of Art Names Peter Drake Dean of Academic Affairs

China Appeals to Rival Taiwan with Ancient Treasures

December 1, 2009

Max Ernst Museum Presents 150 Works of Art by US Filmmaker David Lynch

Sotheby's London Sale Of Rediscovered Fabergé Totals $11.6 Million

Royal Society Launches New Interactive Timeline "Trailblazing"

Baltic Center for Contemporary Art Announces Partnership with Sky Arts

Miami Art Museum Names John Wetenhall Interim Director

Sotheby's Sale to Feature Rare Group Of Medieval Gargoyles

Display Celebrates Anniversary of Jane Bown's Relationship with 'The Observer'

Museum of Anthropology in Vancouver Introduces New Brand

Anish Kapoor to Make Rare Appearance to Sign Copies of New Monograph

Andrew Wyeth Painting on View for Limited Time at the Dayton Art Institute

Ellen Harvey's Solo Project "The Room of Sublime Wallpaper" to be Shown at NADA

Life According to Wilhelm Sasnal at the CAC Málaga in Spain

Paris Evolution Sale: from Dinosaurs to Space Diapers

From Russia with Love: Bonhams Attracts 1.9 Million for Russian Art Sale

Attendance Boom at the New Ars Electronica Center

Classical Paintings Shine at Christie's in Hong Kong

Freeman's Announces Books, Manuscript, Maps, Prints & Posters Auction

Clothes Show Live Announces Shortlisted Entries

Duke of Northumberland Buys Back Ancestral Plate in 1 Million Meissen Sale

Bonhams to Make Its Impression on the Recovering Art Market

November 30, 2009

Russian Art Week Sales Expected to Reach $81 Million for Auction Houses in London

Rhode Island Museums Consider Relocating Sarcophagus

Tomoo Gokita, the Clayton Brothers and Erik Parker Join STAGES for Miami Show

Van Ham to Auction Numerous Works by Established Photographers

First Major Survey of the Work of American Artist Zoe Leonard at MUMOK

Walk-In Sculpture, Tekrar Level Four, by David M. Abir, at PULSE Miami

Bozar Presents an Extensive Multidisciplinary Mexico Festival

"A" is for Aivazovsky as Bonhams Russian Sale Boasts a Cyrillic Who's Who

Solo Exhibition for Navid Nuur at Kunsthalle Fridericianum

Elms Lesters Painting Rooms to Show New Prints by Jose Parla

Group Exhibition at Siemens Sanat Shows Melancholy of Compassion

Free Bob Dylan Photograph to be Offered with "A Complete Unknown" Book

Durban Segnini Gallery Presents Works by Venezuelan Artist Milton Becerra

Biennial of Young European Creation Completes First Stage at Montrouge

Chazen Museum of Art Announces Contemporary Mechanical Sculpture Exhibition

National Museum of Cultures in Mexico Receives Donation from Cyprus

Red Dot Art Fair to Run Concurrent to Art Basel Miami Beach

Next Art4Barter to Open December 4 at Ven and Vaida Gallery

New Date for CIRCA Puerto Rico '10 & Cooperation with Art Beijing'

Some One Hundred French and International Galleries Invited to ArtParis + Guests

Most Popular Last Seven Days



1.- Colossal statue of Amenhotep III unveiled on the west bank of the Nile in Egypt

2.- British royals crown New York visit with gala dinner

3.- Missing artwork rediscovered in "Stuart Little" sells for over 200,000 euros at auction

4.- Rossetti's Venus Verticordia soars at Sotheby's in London to sell for £2.88 million

5.- Russian magnate buys, then returns Nobel prize to American geneticist James Watson

6.- Egyptian Museum unveils four newly renovated halls of the famed Tutankhamun gallery

7.- 'The Secret of Dresden: From Rembrandt to Canaletto' on view at the Groninger Museum

8.- Cooper Hewitt Smithsonian Design Museum reopens after three-year renovation

9.- More than 200 queries about works by possible heirs received on Nazi-era art hoard

10.- Attorney, artist and filmmaker reflects on the seven lessons learned at 2014 Art Basel Miami Beach

Related Stories



Installation of Spiders Weaving Stars by Tomas Saraceno in Italy

Caravaggio Investigation to Show Definitive Results in May

Italian Authorities Recover Euro165 Million in Stolen Art, Relics

Earthquake Shakes Central Italy; Rescuers Recover Artwork from Church in Spina

Italian Police Recover Hoard of Looted Artifacts After Year of Investigation



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 

Founder:
Ignacio Villarreal
Editor & Publisher: Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez - Marketing: Carla Gutiérrez
Special Contributor: Liz Gangemi - Special Advisor: Carlos Amador
Contributing Editor: Carolina Farias

Royalville Communications, Inc
produces:

ignaciovillarreal.org theavemaria.org juncodelavega.org facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site