Money Laundering A Part of History Antiques Barry Keith Holbert (Sentence: 97 months, Restitution/Fines/Penalties/Settlements Paid: $2,200,356) Action Date: June 25, 2004 Location: Lubbock, TX On June 25, 2004, in Lubbock, TX, Barry Keith Holbert was sentenced to 97 months imprisonment and ordered to pay $2,200,356.65 in restitution to the victims of his crime. Holbert pled guilty in March 2004 to a two-count Information that charged him with one count of wire fraud and one count of money laundering. At the time of his plea, Holbert acknowledged that the loss involved in this case was between $1 million and $2.5 million and that there are between 10 and 50 victims of his fraud. Holbert is the owner of A Part of History Antiques, Inc. and according to documents filed in court created counterfeit bills of sale and fraudulent provenance (history of an artwork's ownership) to misled investors in believing that they were investing money in authentic paintings. In 1999, Holbert received approximately $605,000 from several investors who invested in a sham Van Gogh. Holbert also received from investors tens of thousands of dollars to invest in the ownership of paintings which Holbert subsequently sold at a much higher price, without that investor's knowledge, authorization or consent, and did not provide the investor with any of the proceeds from that sale.