FBI closed probe into stolen Picasso aquatint with no arrests, recovery firm says

The FBI Art Crime Team investigated the recovery of a Picasso aquatint stolen in 1990 but brought no charges before returning the work to an insurer, according to a recent statement by Art Recovery International.

The firm said in a post made to social media last month that The Smoker, numbered #8 in an edition of 50, had been stolen from a prominent Texas oil executive.

It surfaced 33 years after the theft at the auction house Bonhams, and Art Recovery International said it quickly had it pulled from the sale.

“Within a few weeks, Art Recovery negotiated an unconditional surrender and release with the consignor only to have the FBI Art Crime Team swoop and take over the criminal investigation,” the company said in its post.

The print had been listed on the FBI National Stolen Art File, Interpol’s Stolen Works of Art Database, and private databases.

“THREE YEARS LATER...the FBI investigation has concluded (no arrests) and the artwork has been released to Art Recovery International on behalf of the Insurer,” the company said.

It is being returned to the heir of the theft victim through their Houston lawyer, with logistics being handled by Crozier Fine Arts.

Urgent Matter has reached out to the FBI for more information and additional comment.

Follow along with other art crime stories at Urgent Matter’s art crime tracker.