Auction Scandal: The Basquiat-DiCaprio Connection

Four artworks by Pablo Picasso, Jean-Michel Basquiat, and Diane Arbus, surrendered to the U.S. Department of Justice due to the 1Malaysia Development Berhad (1MDB) scandal, are being auctioned online by the U.S. Marshals Service.

Auction house Gaston and Sheehan is handling the sale of Jean-Michel Basquiat's self-portrait (1982), the collage Red Man One (1982), Pablo Picasso's Tête de taureau et broc (1939), and Diane Arbus's Child with a Toy Hand Grenade. The auction began on July 16 and will end on September 4.

According to documents, Basquiat's self-portrait was surrendered by Christopher Joey McFarland, founder of Red Granite Pictures. The other three works were purchased by Low Taek Jho and gifted to Leonardo DiCaprio, who surrendered them to the U.S. government.

Low is wanted for his role in the 1MDB scandal, from which over $4.5 billion was stolen. Proceeds from the auction will benefit individuals harmed by corruption in Malaysia.

Gaston and Sheehan previously sold artworks related to the 1MDB scandal, such as Andy Warhol's Round Jackie (1964).