Gundlach Art Collection Recovered, 2 Arrested

  • September 30, 2012 23:21

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A Hanson Duvall Puthuff painting was among the $10 million worth of art recovered by police for collector Jeffrey Gundlach last Thursday.

Bond manager Jeffrey Gundlach got his $10 million art collection back. Missing since Sept. 14, his collection of pricey examples by Piet Mondrian, Jasper Johns, Richard Diebenkorn and a variety of other artists, was recovered by police after a tip came in.

Gundlach had offered a $1.7 million reward for the safe return of his collection.

Police raided Al & Ed's Autosound in Pasadena based on the tip. They arrested the store manager, Jay Jeffrey Nieto, 45, on suspicion of possessing stolen property, and Wilmer Cadiz, 40, was arrested at his home. All but one of the paintings were recovered in the auto stereo shop while the last was found in a home in Glendale.

Gundlach had offered $1 million for the return of a Mondrian painting called “Composition (A) En Rouge Et Blanc,” which is said to be the highest ever reward for a single painting. It is unclear whether the tipster will be paid the reward money.

A Porsche and other valuables are still missing.

Read more at LA Times


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