Fake Monet, Renoir paintings cost dealer US$31M and his reputation

Alex Komolov, the owner of the Alskom Gallery in Manhattan, is in the midst of a six-year legal battle against his former business colleagues for allegedly selling him more than US$31 million worth of fake art. He’s seeking to recoup his money and restore his name.

Komolov claims David Segal and Mohamed Serry tricked him into buying US$30 million worth of fraudulent Monet, Vlaminck, Picasso and Manet paintings, among other antiques, between 2007 and 2009. Komolov purchased the works through his company High Value Trading and also claims Segal and Serry, owners of Artique Multinational, skipped out on paying US$4.2 million for his New York City condo in 2007.

In a second suit, Komolov is targeting Universe Antiques owner Jack Shaoul for allegedly selling him a fraudulent Renoir painting in 2011 for US$1.2 million.