Renowned art dealer Guy Wildenstein stands accused of orchestrating a complex tax evasion scheme, allegedly concealing assets and artwork valued at a staggering $675 billion following the passing of his father in 2001. Initially cleared of charges in 2017, a pivotal turn came in 2021 when the French appeals court overturned the verdict. The extensive Wildenstein art collection, spanning five generations, boasts masterpieces by illustrious artists such as Caravaggio and Fragonard.
In the aftermath of his father's demise, Guy purportedly dispatched numerous artworks to offshore trusts and shell companies dispersed across various jurisdictions. The implementation of a new law in 2011 mandated French citizens to disclose assets held in foreign trusts, shedding light on Guy's alleged financial maneuvers. Additional revelations surfaced from Daniel Wildenstein's widow, Sylvia, and other female relatives, who claimed to have been marginalized in inheritance matters.
Following protracted legal proceedings, the Paris appellate court ultimately found the gallerist guilty, imposing a four-year prison sentence, commuted to two years of house arrest, alongside a hefty $1 million fine. This verdict signifies a landmark moment in the pursuit of justice concerning one of the most intricate financial scandals in recent memory.
FKC is determined to clamp down on unauthorized use of Frida's image, yet faces challenges stemming from Kahlo's anti-capitalist principles, complicating their efforts.
The overall cost fell just shy of $30 million.