U.S. Marshals’ Service Seized Art Could Fetch Millions At Auction

The U.S. Marshals’ Service is holding an online auction for two valuable pieces of art, Heinz Schulz-Neudamm’s rare “Metropolis” 1927 film poster and Andy Warhol’s piece entitled “Round Jackie, 1964,” with starting prices of $367,000 and $510,000 respectively.

The “Metropolis” poster is from a settlement agreement in a federal civil forfeiture case against assets acquired by Riza Aziz, who is alleged to have participated in laundering billions of dollars pilfered from 1Malaysia Development Berhad, an investment fund intended to benefit the Malaysian people, officials said last week. The Warhol piece is also from a federal civil forfeiture action associated with the 1MDB embezzlement, officials added.

In 2005 a Heinz Schulz-Neudamm’s rare “Metropolis” 1927 film poster sold for $690,000 in a 2005 private sale.

In 2013 a signed Andy Warhol’s “ROUND JACKIE” sold for $1,055,000 at Sotheby’s Auction House.

The auction website includes provenance information, condition reports, and detailed photos of the pieces.

The auction is being held by U.S. Marshals auction vendor Gaston & Sheehan on the web at www.txauction.com. Registration and bidding are currently underway, with the auction ending Feb. 18.

“Metropolis” poster: U.S. Attorney’s Office news release from Sep. 2, 2020

Warhol piece: U.S. Department of Justice press release from July 1, 2020

The Department of Justice Asset Forfeiture Program is a key component of the federal government’s law enforcement efforts to combat major criminal activity by disrupting and dismantling illegal enterprises, depriving criminals of the proceeds of illegal activity, deterring crime and restoring property to victims. The U.S. Marshals Service plays a critical role in identifying and evaluating assets that represent the proceeds of crime as well as efficiently managing and selling assets seized and forfeited by DOJ.

Source: US Marshals’ Service

 

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