- Associated Press - Monday, December 1, 2014

NEW YORK (AP) - A New York man has pleaded guilty to selling fake works by artists like Jackson Pollock and Willem De Kooning in a scheme that cost art buyers about $2.5 million.

John Re, of East Hampton, pleaded guilty Monday to wire fraud in Manhattan federal court.

Prosecutors said over the course of nine years he lied about the authenticity of dozens of paintings, sketches and pastels. They say American artists Pollock and De Kooning were among names Re used to entice buyers.

The government says the 54-year-old Re then bought a submarine, the “U.S.S. Deep Quest.” Purchased in Texas, the submarine’s potential sale is now blocked by the court to satisfy a $2.5 million forfeiture order.

He could face up to four years in prison at an April 10 sentencing.

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