U.S. Marshals auctioning off fine art by Picasso, Matisse - Cincinnati News, FOX19-WXIX TV

U.S. Marshals auctioning off fine art

Linocut by Pablo Picasso Linocut by Pablo Picasso
Henri Toulouse-Lautrec Henri Toulouse-Lautrec
(FOX19) -

The U.S. Marshals Service is holding online auctions to sell 245 works of art by Chagall, Matisse, Picasso, Toulouse-Lautrec and other old masters, as well as pieces by more recent famous artists, until July 2.

The art in the auction was seized from multiple federal court cases in which the art was forfeited to the government, and the proceeds from the auction will be used to compensate the victims of the cases.

Three of the court cases from which the art was gathered involved Marc Dreier from New York, Justin French out of Virginia, and Shawn Merriman from Colorado.

Dreier, 62, was convicted in 2009 on fraud and money laundering $400 million and is scheduled for release from a Minnesota federal prison in 2026.

French, 41, of Richmond, Va., was convicted in 2011 for stealing millions from federal and state tax credit programs intended to rehabilitate historic buildings. He is expected to be released from a federal prison in West Virginia in 2025.

Merriman, 49, of Aurora, Colo., was convicted on a mail fraud Ponzi scheme that defrauded 67 investors of millions of dollars in 2010. His scheduled release date from a federal prison in South Dakota is 2020.

For more information on the auctions or to place a bid, visit www.txauction.com. For more information on the U.S. Marshals Service, visit http://www.usmarshals.gov.

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