A counterfeited painting called "Marie Therese Walter" of Spanish artist Pablo Picasso that was offered for the 35 to 60 million euros is displayed with other forged paintings of Rembrandt, Rubens and Picasso. Fariha Farooqui / REUTERS

A plot spanning three countries to sell suspected forgeries of paintings by artists including Rembrandt, Pablo Picasso and Frida Kahlo for huge sums of money was busted, police said Friday.

The main suspect, a 77-year-old German man, allegedly attempted to sell 20 fake paintings, which also included purported works by Flemish old master Peter Paul Rubens, Spanish artist Joan Miro and Italian sculptor Amedeo Modigliani. Police in Bavaria said he was aided by 10 accomplices.

Investigators first became suspicious of the septuagenarian when he attempted to sell two supposedly original paintings by Spanish painter Pablo Picasso on the art market, CBS News partner BBC News reported. One of the artworks featured a portrait of Dora Maar, a French photographer, painter and poet who was Picasso's most famous muse.

Police said the man then wanted to sell De Staalmeesters, a famous oil painting by Rembrandt, for 120 million Swiss francs ($150 million) — despite the original painting hanging in the Rijksmuseum in Amsterdam.

The copy, thought to be from the 20th century, was found in the possession of an 84-year-old Swiss woman, who is also under investigation.

"It was, as suspected, a copy and not a lost masterpiece by Rembrandt van Rijn," police said after the copy was examined by an art expert, BBC reported.

The paintings were being offered for between 400,000 euros and about 130 million euros ($465,000 and $150 million), police said in a statement.

Police carried out searches last week in several cities in southern Germany as well as in Berlin, several parts of Switzerland and Liechtenstein, they said.

The main suspect and another German man, aged 74, accused of preparing reports to confirm the works' authenticity, were arrested when police carried out raids. They have since been released on bail.

"Among other things, all confiscated paintings will be examined in detail by experts and appraisers in the coming weeks," police said, according to the BBC.


The Bavarian federal state investigation office unveils a counterfeit painting by Flemish Baroque artist Anthony van Dyck, titled "Mary with Child," which was offered for 5.39 million euros in Munich, Germany. Fariha Farooqui / REUTERS

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