Guy Wildenstein at L. Image by Getty Images

Members of a French-American Jewish art-dealing dynasty went on trial in a case that could see authorities demand $600 million in back taxes.

Guy Wildenstein, 70, the heir to his family’s New York art empire, went on trial Monday. He faces up to 10 years in prison for storing a large percentage of his inherited fortune in tax havens such as the Bahamas and the Cayman Islands.

Investigators say that he and his late brother, Alec Wildenstein, fraudulently undervalued the value of the fortune left behind by their father Daniel Wildenstein.

Forwarding the News

Thoughtful, balanced reporting from the Forward and around the web, bringing you updated news and analysis each day.

Terms(Required)

I agree to the Forward's Terms of Service and Privacy Policy

Email(Required)

The father was the third head of the renowned Wildenstein & Co. art dealing company, one of the largest of its kind in the world. He owned paintings by the likes of Monet, Picasso and Renoir. He was also a historian and a thoroughbred horse breeder.

The case began in 2010 when Guy Wildenstein’s sister-and-law and stepmother brought evidence of the alleged fraud to French authorities.

Wildenstein said that he was not legally obligated to report the terms of the family’s trust-held assets after his father’s death, AFP reported.

A message from our Publisher & CEO Rachel Fishman Feddersen

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

The coming year promises to be filled with more complex and historic developments. We are entering an era where independent, fact-based Jewish journalism will be more important than ever. We need to be ready for whatever 2025 will bring, and with your help, we can be.

We’ve set a goal to raise $260,000 by December 31. That’s an ambitious goal, but one that will give us the resources we need to invest in the high quality news, opinion, analysis and cultural coverage that isn’t available anywhere else.

If you feel inspired to make an impact, now is the time to give something back. Join us as a member at your most generous level.

—  Rachel Fishman Feddersen, Publisher and CEO

With your support, we’ll be ready for whatever 2025 brings.

$36 $500

$120 $180 Other amount