Crime

Gundlach gets his stolen artwork back

That $10 million art theft at the home of Santa Monica bond trader Jeffrey Gundlach has been solved — or at least he has gotten his artwork back and two men have been arrested. I guess rewards work when they are big enough. Gundlach had offered $1.7-million. From the LA Times:

"The focus was on recovering the artwork, and it was all recovered," Gundlach told The Times. "The thieves had worked on moving the property, but we were able to get a good lead and apprehend them. It's a great day for the art world."

Santa Monica police arrested two suspects in the crime, and Gundlach said that at least one of the pieces was in the midst of being sold.

The big break in the case came Wednesday when Pasadena police officers received a tip that the stolen art was held at an automobile stereo shop, Santa Monica police said in a news release. Officers raided the Al & Ed's Autosound store on South Rosemead Boulevard, recovered all but one of the stolen paintings and arrested the store's manager — Jay Jeffrey Nieto, 45, of Canyon Country — on suspicion of possessing stolen property.

A second suspect, Wilmer Cadiz, 40, was arrested at his home in Rosemead, also on suspicion of possessing stolen property.

The final painting was recovered at a residence in Glendale.


More by Kevin Roderick:
LA Observed Notes: 60 Minutes, selling the Coliseum and more
Gil Cedillo, Nick Melvoin win LA runoffs*
LA Observed Notes: Baca goes down, LAX shuffle, media moves
LA Observed Notes: Big TV news, media moves, obits and more
LA Observed Notes: Writers on the verge, Fox, the riots and more
Recent Crime stories on LA Observed:
Back home in a more suspicious Mar Vista
Code 7 in Sherman Oaks: A little bit of history
Feds throw more charges at ex-Sheriff Baca
Ex-sheriff Baca rolls the dice on a trial
Judge says ex-Sheriff Baca deserves more time in jail
The hijacker on Arlington Avenue
Grim Sleeper convicted almost 8 years after getting his name
For first time, panel urges parole of Leslie Van Houten


 

LA Observed on Twitter