Insight Crime: Money laundering using works of art, archaeological artifacts, and other cultural assets remains a little-known and under-reported practice in Latin America. But a recent report sheds light on how these schemes operate.
Purchasing valuable cultural assets with illicit proceeds offers criminals a way to store their ill-gotten gains and obscure their origins. In recent years, major art collections have been tied to corrupt politicians and members of criminal groups across the region.
As of 2023, Colombia’s government agency tasked with managing assets seized by the state held an inventory of more than 1,000 artworks, including two attributed to 17th-century Flemish master Peter Paul Rubens. In Guatemala, authorities confiscated over 120 artworks in 2021 from Erick Archila, a former energy and mines minister under President Otto Pérez Molina, who faces charges of illicit association and money laundering. In Brazil, authorities seized more than 200 pieces—some by Spanish artists Joan Miró and Salvador Dalí—that were allegedly used to launder funds linked to the Lava Jato corruption scandal, one of the largest in the country’s history.
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Did someone say ART???
Subjective value bastardized (read: pushed) to reflect or suit criminal activities hidden behind a vague, inarguable front called “Art”.
This is the reason “modern art” exists.
it’s also why Hunter Biden was trying to sell his crap art.
Looks to me like the corrupt in-power guys are “confiscating” the corrupt out-of-power guys investments.
“… faces charges …”
“… allegedly used …”
“… linked to …”
Pretty weak, even by corrupt SA standards.
mortem tyrannis
izlamo delenda est …
How does laundering money thru art and culture compare to laundering money thru NGOs and charities? The Clinton Global Initiative itself has probably laundered more money than what has been done thru all art and culture combined.
In the 1990’s, there was a movie called ” Mickey Blue Eyes”, Hugh Grant and James Caan starred and it was about the mob money laundering through artwork – not good artwork, but artwork nevertheless.
The 1990’s had many good movies (I love Clueless, the remake of Emma).