Archive · 24 Sep 2025
ED Uncovers ₹17.9 Cr Art Fraud Involving Fake Paintings
A banker in Mumbai was tricked into buying fake paintings, costing him a lot of money.
The paintings were supposed to be by famous artists and from a royal family.
The seller pretended the paintings were real to make the sale seem legitimate.
However, the 'royal' seller was actually a farmer.
The ED, a government agency, is investigating because they believe money laundering was involved.
They filed a case against the art dealer and others.
Experts confirmed the paintings were fake after the sale.
An investment banker was allegedly defrauded of Rs 17.9 crore.
The art dealer allegedly sold fake paintings by famous artists.
The seller falsely claimed the paintings came from a Maharaja.
The actual seller was a small-time farmer.
The Enforcement Directorate (ED) filed a prosecution complaint.
- Who
- Rajesh Rajpal (art dealer), Raghavendra Singh Parmar (farmer), an investment banker, and others.
- What
- An investment banker was allegedly defrauded of Rs 17.9 crore through the purchase of fake paintings.
- When
- February to May 2022 (alleged crime)
- Where
- Mumbai, India.
- Why
- Rajpal allegedly sold forged artworks by misrepresenting them and vouching for their authenticity. The ED alleges money laundering.
- Victim
- Investment Banker
- Amount Duped
- Rs 17.9 crore
- Art Dealer
- Rajesh Rajpal
- Fake Maharaja
- Raghavendra Singh Parmar (Farmer)
- Alleged Scheme
- Sale of fake paintings
- ED Action
- Filed prosecution complaint
