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I would be willing to bet that this is exactly what happened--

1. Concept artist made concept art early in the project (concept art is very often put together from many pieces of art or other pictures, original or not)
2. Picture got put in some folder somewhere on the network under concept art.
3. Picture was forgotten about for two years.
4. It came time for the publisher to make the insert, used the concept art folder.

No malice anywhere and nothing even anyone's fault, just an unfortunate goof.  Just be happy the artist isn't being bad about it and handling it well.