PHILADELPHIA, PA — Carter Reese, 77, of Reading, Pennsylvania, entered a guilty plea on Thursday, May 29, to charges of wire fraud and mail fraud in connection with an extensive art fraud scheme. The plea was entered before United States District Court Judge Jeffrey L. Schmehl.
As detailed in court filings, Reese admitted to selling and attempting to sell counterfeit artwork between February 2019 and March 2021. He falsely claimed the pieces were created by renowned artists such as Pablo Picasso, Andy Warhol, Jean-Michel Basquiat, and others. Reese, however, was fully aware that the art was fraudulent.
“The defendant exploited the trust and passion of art buyers for personal gain,” stated U.S. Attorney David Metcalf in the announcement of the plea.
Reese faces a potential maximum sentence of 40 years in prison. Sentencing is scheduled for September 12.
This case was thoroughly investigated by the FBI’s Art Crime Team, with agents from the Philadelphia and Miami field offices leading the inquiry. Assistant United States Attorneys Ruth Mandelbaum and Jason Grenell are prosecuting the case.
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