An FBI spokesman says the owner of Madison art retailer the Brandon Gallery has been arrested on fraud charges, according to the Associated Press (AP).

FBI spokesman William Reiner told the AP that David Crespo was arrested Tuesday on mail and wire fraud charges. He is expected to appear in federal court in Bridgeport Tuesday afternoon. Crespo is a Guilford resident.

At least eight agents from the FBI descended on the Brandon Gallery at 759 Boston Post Road in Madison on Nov. 12, 2010. FBI site spokesman Bill Reiner confirmed that the agency was executing a search warrant, but could provide no further information.

The gallery, which had been a Main Street staple for at least a decade, carried a wide variety of items ranging from scarves and jewelry to allegedly original pieces by artists such as Picasso, Chagall, and Dali that carried several-hundred-thousand-dollar price tags. The authenticity of several of those works has publicly come into question since the raid.

Crespo's attorney declined comment for the AP.