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Painting

Feb 15, 2008

Brazilian banker's missing Basquiat appears in NYC

An $8 million painting by renowned 1980s artist Jean-Michel Basquiat turned up in a Manhattan warehouse after disappearing from an imprisoned Brazilian banker's now-confiscated art collection, federal prosecutors said.

Prosecutors filed papers Wednesday seeking to seize the 1982 work, called 'Hannibal,' in an effort to help Brazilian authorities claim it.

Its last known owner was Edemar Cid Ferreira, the former owner of Banco Santos and one of Brazil's largest art collectors. The bank went bankrupt in September 2005, leaving behind debts of over $1 billion. Read more

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