Porn king tops victims list in alleged artworks scam

Mr Ange and his wife Mimi head the list in court documents of those seeking the return of money or paintings from an artworks investment scheme set up by Sydney fine arts dealer Ron Coles.

Police had seized 404 paintings from the scheme following its $23 million collapse.

According to fraud squad police, Mr Ange is seeking more than $800,000 he and his wife lent to Mr Coles or invested in paintings which may or may not exist.

Mr Ange's involvement in the failed arts investment scheme was revealed last week in civil proceedings in the Equity Division of the NSW Supreme Court, when officers from Strike Force Glasson investigating Mr Coles's dealings advised the court that they were returning 100 paintings to 34 of 119 people disputing ownership of the paintings seized.

It is alleged that investors bought a painting thinking they were the sole investor in the work but the painting was also sold to other unsuspecting investors, in a scheme that gave a tax benefit to the investor as a form of superannuation if the painting remained in a gallery and not at their home or business.

Police also told the brief hearing that the other 85 people would have to resolve ownership of the remaining 304 paintings still in the possession of receivers through mediation or future court proceedings. Those seeking the return of their paintings or money were told by police they would also have to pay to have their paintings authenticated.

Forensic analysis by Melbourne University art experts had determined that some of the paintings seized were fakes.

The paintings found to be fake included three allegedly by d'Arcy Doyle as well as works said to be by Pro Hart and David Boyd. Police have also been told by the son of the late Pro Hart that other paintings in the seized collection attributed to his father were forgeries.

However, police said no charges relating to the sale of a forged painting could be laid as a fake work was not considered a "false instrument".

Charges can be laid only if it can be proved that, at the time of the sale, the vendor knew the work to be a fake.

The dispute over the ownership of the remaining 304 artworks brought to court by the other 85 investors has been relisted for hearing in the Supreme Court on March 16.

Meanwhile, Fraud Squad police are continuing investigations into the collapse of the Coles art dealership and where the $23 million in allegedly invested funds ended up.