Attorneys for San Francisco real estate mogul say art worth millions less

Developer Luke Brugnara, convicted in May 2015 of refusing to pay for some artwork, will be sentenced next month, although his lawyers are pushing for a new trial. (KGO-TV)

There has been a major development in the case of a San Francisco real estate tycoon, convicted of art fraud.

Attorneys on both sides agreed in federal court Wednesday that the art in question is worth far less than the $11 million previously thought, In fact, experts testified that paintings originally valued at $7 million are actually fake.

Developer Luke Brugnara, convicted in May of refusing to pay for the artwork, will be sentenced next month, although his lawyers are pushing for a new trial.

As the ABC7 News I-Team first showed us last week, Brugnara, escaped from federal custody at one point, but was later recaptured.

Read the I-Team's exclusive interview with "Lucky Luke" Brugnara here

Related Topics:
I-Teamartsculpturescamtrialreal estatemoneyescaped prisonerfraudSan FranciscoSeacliffSunset DistrictFinancial District
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