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Recent tax fraud investigations have turned up widespread inflation in the value of artworks donated to museums, spawning reformist rumblings from economists and the Congress, report Jason Felch and Doug Smith in the Los Angeles Times. In January, federal agents raided four southern California museums while investigating an alleged scheme involving the donation of overvalued Asian and Native American artifacts. Tyler Green rebuts in his blog, Modern Art Notes, here.

also by Bill Davenport
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