A pair of California art scammers pleaded guilty Monday to selling hundreds of thousands of dollars of counterfeit Damien Hirst artwork out of their Laguna Beach art gallery.
Vincent Lopreto, 48, and Ronald Bell, 49, admitted to peddling fake pieces by the British artist on eBay and through auction houses, using fake letters of authenticity. They each pleaded guilty to identity theft and scheme to defraud felony charges at their Manhattan Supreme Court arraignments.
Lopreto faces a minimum of 1¹/₂ to 3 years in jail in exchange for his “extraordinary cooperation” with the DA’s office in a plea bargain that would also toss out the identity theft charge. Otherwise, he could get up to 7 years for both felonies.
Assistant District Attorney Jordan Arnold said Lopreto has already helped in the investigation by identifying the victims of his fraud.
Meanwhile, Bell, who helped facilitate the fraudulent art sales by providing access to bank accounts and credit cards, faces 3 months in prison and was ordered to pay $120,000 in restitution.
The duo were caught after they ripped off two New Yorkers, one of whom purchased a fake limited-edition Hirst print called “Valium” for about $2,000. A genuine “Valium” print can sell for as much as $30,000.
The savvy New Yorkers contacted authorities and undercover DA’s Office agents nabbed the fraudsters through a sting in which they bought three prints on eBay.
In 2008, Lopreto was sentenced to five years in state prison for committing similar crimes involving Hirst artwork.
Lopreto’s lawyer Jessica Horani and Bell’s attorney Christopher Chan declined comment.
Lopreto and Bell will be sentenced April 10 and April 24, respectively.