Danny Jones Podcast #346

The $450 Million Da Vinci Conspiracy & CIA Psyops Behind Modern Art
Guest: Giampiero Ambrosi
Date: November 3, 2025

Episode Overview

In this eye-opening episode, host Danny Jones talks with investigative journalist and documentary producer Giampiero Ambrosi. Together, they explore the shadowy world of high-value art forgeries, elaborate art heists, royal scandals, and the CIA’s covert influence on the rise of modern art during the Cold War. Ambrosi shares first-hand stories from his years embedded with art forgers, and the incredible true crime saga of billionaire James Stunt’s failed $450 million art scam involving Prince Charles’ charitable foundation. They also dive into the intersection of technology, provenance, and power in art authentication, and discuss broader cultural and political implications—culminating in a deep exploration of how art, money, and influence have always been entwined.

Key Discussion Points & Insights

1. How Ambrosi Entered the World of Art Forgery

Ambrosi’s early career as a journalist in Japan's economic bubble led to investigations of the surge in fake European art bought by newly wealthy Japanese collectors (00:39).
He met master American art forger Tony Tetro, who eventually shared his archives and secrets after they developed mutual trust (02:00).

2. The Anatomy of a $450 Million Art Scam

James Stunt, a flamboyant British billionaire, commissioned Tony Tetro forgeries to outfit his LA mansion—and later became embroiled in a complex scheme involving Prince Charles’ Dumfries House (03:51).
Stunt attempted to launder and inflate the value of art—including outright fakes—by “lending” works worth hundreds of millions (on paper) to the British royal collection, and then using those loans as collateral for vast loans from high-end art lenders (09:18, 36:32).
Forgers don’t usually copy existing works; rather, they creatively invent “lost” paintings that plausibly fit into known gaps in artists’ catalogs, supported by forged provenance (06:03).

3. Exposing the Royal Collection Scandal

Ambrosi’s reporting revealed that several forgeries made it into Prince Charles’ collection, aided by close royal associates who skipped basic due diligence (12:36).
After resistance and stonewalling from the palace ("never complain, never explain" policy), media exposure finally forced royal acknowledgment:
- "Pages one to five...the entire first five pages of the newspaper, of the largest circulation Sunday newspaper in the UK is this story." (21:53)

4. Art as the Ultimate Financial Instrument

Art's subjective value lets the ultra-wealthy launder money, park wealth “offshore” in tax-free freeports, and manufacture value for collateral or tax write-offs (26:51, 39:09).
"It's kind of the last wild west financial instrument." (29:54)
"[Art] is printed out of thin air...an immaterial kind of thing. Does the market have comparables?...Now you have $10 million worth of tax write-off." (32:41)

5. The “Lost Leonardo” and the Power of Opinion

Deep dive into the controversial authentication of the “Salvator Mundi,” the $450 million Leonardo painting: Is it genuine, or did restoration and big money conjure up a legend?
- "If you take a painting and you restore it to the extent where you've repainted a whole bunch of it...of course it looks like Leonardo, you just painted it to look like Leonardo." (41:59)

6. The CIA, Modern Art, and Cultural Warfare

CIA used modern art—especially Abstract Expressionism—as a cultural psyop against Soviet realism, covertly funding museums, galleries, and the promotion of artists like Pollock.
- "They set up all of these foundations...really CIA fronts to support gallery shows and symposiums..." (89:54)
Authenticating a possible CIA-linked Pollock painting involved not just investigating provenance, but cutting-edge scientific analysis (paint matching, radiocarbon dating, spectral analysis) (94:11).

7. Technology & the End of Traditional Forgery

Advances in analysis (like AI, Raman spectroscopy, and database cross-referencing) have nearly ended the era of forgery as practiced by past masters like Tetro (73:35).
Still, institutional gatekeeping by foundations (sometimes with financial conflicts of interest) can override even hard scientific authentication (97:51).
“Despite having all the scientific data you have—good luck...if the experts with connoisseurship, their eye, don’t like it.” (97:54)

8. Cultural & Economic Reflections on Art

The interplay of wealth, power, and art throughout history—from the Catholic Church’s commissions in the Renaissance to today’s oligarchs and hedge funders (107:08).
The market for contemporary art is often driven by manufactured demand and financial utility rather than genuine appreciation (49:10).
Notable comparison to modern phenomena like NFTs, crypto, and wild speculative assets (51:13).

9. Media, Social Media, & the Battle for Truth

Discussion of media liability, algorithmic radicalization, Section 230, and how social media now drives information disorder, echoing the weaponized propaganda of earlier eras (134:06).
"If you make playground equipment, you're not off the hook for any liability. Why do [social media companies] deserve it?" (138:06)
Comparison of new “culture wars” (social media, influencer economy) with old CIA “soft power” ops (116:14).

10. Human Aspects: The Making of a Forger

Tony Tetro’s origin story: learning the ropes from an unscrupulous dealer, developing genuine artistic mastery, and the blurred lines between “emulation” and “forgery.”
For many, art forgers are folk-hero figures, exposing the insecurity and elitism of the art world (52:51).

Notable Quotes & Memorable Moments

On the scam’s mechanics:

"He wanted $161 million. And the plan all along was I just walk away from it. They keep the collateral. It's not worth anything… I did the total sum… and it was probably worth… $2 million."
— Giampiero Ambrosi 37:16
On fundraising modern art as a Cold War weapon:

"The CIA wanted to counter… Soviet realism with an art form that would appeal… Abstract impressionism… paintings that are so free, they don't even have to mean anything."
— Giampiero Ambrosi 87:45
On expert opinion vs. science:

"Despite having all the… scientific data you have. Good luck…If the experts… don’t like it, good luck.”
— Giampiero Ambrosi 97:54
On freeports:

"Most people who buy important… $50 million… art never have them… just go to the Freeport… it's just like any other financial asset… like crypto…"
— Giampiero Ambrosi 39:22
On public's love for forgers:

"The art forger is kind of seen as… kind of a Robin Hood figure… because it is really sort of getting back at these wealthy people and experts."
— Giampiero Ambrosi 52:51
On AI and art:

"Neural networks… with 99.99% accuracy, determine whether something was drawn by Egon Schiele… that's one of the reasons why it is so difficult for somebody like Tony to do what he did now."
— Giampiero Ambrosi 101:37
On social media & radicalization:

"We are in a terrible situation where it's very difficult to deal with any problems because… we are so unable to find a non-radicalized middle ground… [it] is algorithmic… purely pushed by an algorithm which is based upon creating dopamine hits and, and views."
— Giampiero Ambrosi 145:25

Important Timestamps

Early forgeries & Tony Tetro origin: 00:39-07:49
The Royal Collection caper / Prince Charles' charity scam: 09:12-13:14
Busts, media exposure, and palace response: 15:17-21:53
Art's role in financial crime / Money laundering: 26:06-39:09
'Lost Leonardo' debate, restoration, value creation: 41:02-46:23
CIA & MoMA, Cold War art diplomacy & Pollock: 85:15-93:48
Scientific authentication & AI in art: 94:09-101:37
Social Media, Section 230 & media liability: 134:06-148:56
On forgers as folk heroes: 52:51
How the Renaissance became the art capital: 107:06-111:07

Tone & Style

Conversational, witty, with deep historical insight and plenty of real-world crime drama.
Balanced skepticism toward authority and institutions with genuine appreciation for art’s ingenuity.
Both host and guest maintain an irreverent, searching tone—often skeptical of power, institutions, and received wisdom, but fascinated with the world’s mysteries.

For Listeners

If you love probing the intersection of money, culture, power, and deception—or want to hear wild stories of royals, billionaires, and the underbelly of the global art market—this episode is riveting. It’s also packed with lessons about critical thinking, the dangers of unchecked institutions, and the ever-evolving rules of value and authenticity in a world shaped by both human creativity and machination.

Danny Jones Podcast #346

The $450 Million Da Vinci Conspiracy & CIA Psyops Behind Modern Art
Guest: Giampiero Ambrosi
Date: November 3, 2025

Episode Overview

Key Discussion Points & Insights

1. How Ambrosi Entered the World of Art Forgery

Ambrosi’s early career as a journalist in Japan's economic bubble led to investigations of the surge in fake European art bought by newly wealthy Japanese collectors (00:39).
He met master American art forger Tony Tetro, who eventually shared his archives and secrets after they developed mutual trust (02:00).

2. The Anatomy of a $450 Million Art Scam

James Stunt, a flamboyant British billionaire, commissioned Tony Tetro forgeries to outfit his LA mansion—and later became embroiled in a complex scheme involving Prince Charles’ Dumfries House (03:51).
Stunt attempted to launder and inflate the value of art—including outright fakes—by “lending” works worth hundreds of millions (on paper) to the British royal collection, and then using those loans as collateral for vast loans from high-end art lenders (09:18, 36:32).
Forgers don’t usually copy existing works; rather, they creatively invent “lost” paintings that plausibly fit into known gaps in artists’ catalogs, supported by forged provenance (06:03).

3. Exposing the Royal Collection Scandal

Ambrosi’s reporting revealed that several forgeries made it into Prince Charles’ collection, aided by close royal associates who skipped basic due diligence (12:36).
After resistance and stonewalling from the palace ("never complain, never explain" policy), media exposure finally forced royal acknowledgment:
- "Pages one to five...the entire first five pages of the newspaper, of the largest circulation Sunday newspaper in the UK is this story." (21:53)

4. Art as the Ultimate Financial Instrument

Art's subjective value lets the ultra-wealthy launder money, park wealth “offshore” in tax-free freeports, and manufacture value for collateral or tax write-offs (26:51, 39:09).
"It's kind of the last wild west financial instrument." (29:54)
"[Art] is printed out of thin air...an immaterial kind of thing. Does the market have comparables?...Now you have $10 million worth of tax write-off." (32:41)

5. The “Lost Leonardo” and the Power of Opinion

Deep dive into the controversial authentication of the “Salvator Mundi,” the $450 million Leonardo painting: Is it genuine, or did restoration and big money conjure up a legend?
- "If you take a painting and you restore it to the extent where you've repainted a whole bunch of it...of course it looks like Leonardo, you just painted it to look like Leonardo." (41:59)

6. The CIA, Modern Art, and Cultural Warfare

CIA used modern art—especially Abstract Expressionism—as a cultural psyop against Soviet realism, covertly funding museums, galleries, and the promotion of artists like Pollock.
- "They set up all of these foundations...really CIA fronts to support gallery shows and symposiums..." (89:54)
Authenticating a possible CIA-linked Pollock painting involved not just investigating provenance, but cutting-edge scientific analysis (paint matching, radiocarbon dating, spectral analysis) (94:11).

7. Technology & the End of Traditional Forgery

Advances in analysis (like AI, Raman spectroscopy, and database cross-referencing) have nearly ended the era of forgery as practiced by past masters like Tetro (73:35).
Still, institutional gatekeeping by foundations (sometimes with financial conflicts of interest) can override even hard scientific authentication (97:51).
“Despite having all the scientific data you have—good luck...if the experts with connoisseurship, their eye, don’t like it.” (97:54)

8. Cultural & Economic Reflections on Art

The interplay of wealth, power, and art throughout history—from the Catholic Church’s commissions in the Renaissance to today’s oligarchs and hedge funders (107:08).
The market for contemporary art is often driven by manufactured demand and financial utility rather than genuine appreciation (49:10).
Notable comparison to modern phenomena like NFTs, crypto, and wild speculative assets (51:13).

9. Media, Social Media, & the Battle for Truth

Discussion of media liability, algorithmic radicalization, Section 230, and how social media now drives information disorder, echoing the weaponized propaganda of earlier eras (134:06).
"If you make playground equipment, you're not off the hook for any liability. Why do [social media companies] deserve it?" (138:06)
Comparison of new “culture wars” (social media, influencer economy) with old CIA “soft power” ops (116:14).

10. Human Aspects: The Making of a Forger

Tony Tetro’s origin story: learning the ropes from an unscrupulous dealer, developing genuine artistic mastery, and the blurred lines between “emulation” and “forgery.”
For many, art forgers are folk-hero figures, exposing the insecurity and elitism of the art world (52:51).

Notable Quotes & Memorable Moments

On the scam’s mechanics:

"He wanted $161 million. And the plan all along was I just walk away from it. They keep the collateral. It's not worth anything… I did the total sum… and it was probably worth… $2 million."
— Giampiero Ambrosi 37:16
On fundraising modern art as a Cold War weapon:

"The CIA wanted to counter… Soviet realism with an art form that would appeal… Abstract impressionism… paintings that are so free, they don't even have to mean anything."
— Giampiero Ambrosi 87:45
On expert opinion vs. science:

"Despite having all the… scientific data you have. Good luck…If the experts… don’t like it, good luck.”
— Giampiero Ambrosi 97:54
On freeports:

"Most people who buy important… $50 million… art never have them… just go to the Freeport… it's just like any other financial asset… like crypto…"
— Giampiero Ambrosi 39:22
On public's love for forgers:

"The art forger is kind of seen as… kind of a Robin Hood figure… because it is really sort of getting back at these wealthy people and experts."
— Giampiero Ambrosi 52:51
On AI and art:

"Neural networks… with 99.99% accuracy, determine whether something was drawn by Egon Schiele… that's one of the reasons why it is so difficult for somebody like Tony to do what he did now."
— Giampiero Ambrosi 101:37
On social media & radicalization:

"We are in a terrible situation where it's very difficult to deal with any problems because… we are so unable to find a non-radicalized middle ground… [it] is algorithmic… purely pushed by an algorithm which is based upon creating dopamine hits and, and views."
— Giampiero Ambrosi 145:25

Important Timestamps

Early forgeries & Tony Tetro origin: 00:39-07:49
The Royal Collection caper / Prince Charles' charity scam: 09:12-13:14
Busts, media exposure, and palace response: 15:17-21:53
Art's role in financial crime / Money laundering: 26:06-39:09
'Lost Leonardo' debate, restoration, value creation: 41:02-46:23
CIA & MoMA, Cold War art diplomacy & Pollock: 85:15-93:48
Scientific authentication & AI in art: 94:09-101:37
Social Media, Section 230 & media liability: 134:06-148:56
On forgers as folk heroes: 52:51
How the Renaissance became the art capital: 107:06-111:07

Tone & Style

Conversational, witty, with deep historical insight and plenty of real-world crime drama.
Balanced skepticism toward authority and institutions with genuine appreciation for art’s ingenuity.
Both host and guest maintain an irreverent, searching tone—often skeptical of power, institutions, and received wisdom, but fascinated with the world’s mysteries.

#346 - The $450 Million Da Vinci Conspiracy & CIA Psyops Behind Modern Art | Giampiero Ambrosi

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Summary

Danny Jones Podcast #346

Episode Overview

Key Discussion Points & Insights

1. How Ambrosi Entered the World of Art Forgery

2. The Anatomy of a $450 Million Art Scam

3. Exposing the Royal Collection Scandal

4. Art as the Ultimate Financial Instrument

5. The “Lost Leonardo” and the Power of Opinion

6. The CIA, Modern Art, and Cultural Warfare

7. Technology & the End of Traditional Forgery

8. Cultural & Economic Reflections on Art

9. Media, Social Media, & the Battle for Truth

10. Human Aspects: The Making of a Forger

Notable Quotes & Memorable Moments

Important Timestamps

Further Reading / Where to Find Ambrosi's Work

Tone & Style

For Listeners

Summary

Danny Jones Podcast #346

Episode Overview

Key Discussion Points & Insights

1. How Ambrosi Entered the World of Art Forgery

2. The Anatomy of a $450 Million Art Scam

3. Exposing the Royal Collection Scandal

4. Art as the Ultimate Financial Instrument

5. The “Lost Leonardo” and the Power of Opinion

6. The CIA, Modern Art, and Cultural Warfare

7. Technology & the End of Traditional Forgery

8. Cultural & Economic Reflections on Art

9. Media, Social Media, & the Battle for Truth

10. Human Aspects: The Making of a Forger

Notable Quotes & Memorable Moments

Important Timestamps

Further Reading / Where to Find Ambrosi's Work

Tone & Style

For Listeners