Jeffrey Gundlach's Multimillion-Dollar Art Recovered After Santa Monica Home Burglary
Just some of the stolen goods.
It's official: Jeffrey Gundlach is the luckiest man alive.
Not only has the CEO-investor been living a life of riches known only to the 1 percent (and to other friends of Mitt Romney -- house north of Montana Avenue in Santa Monica, museum-worthy paintings on his walls, Porsche Carrera 4S in the garage, Patek Philippe watch on his wrist), but when all that finery was stolen ...
... he got most of it back!
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Santa Monica police announced last night that it has recovered the treasured artwork that was part of a $10 million burglary at Gundlach's home in the 500 block of 12th Street while he was out of town Sept. 12-14.
The haul included "numerous" art works, including pieces by Jasper Johns, Philip Guston, Franz Kline and Piet Mondrian. The Porsche was taken. So was the Patek.
Gundlach kept offering more and more cash for the safe return of the artwork, including $1 million alone for the Mondrian which, he told the Los Angeles Times, was ...
... extraordinarily rare to begin with ... . You can wait years before any Mondrian
comes to sale.
(Scratches chin, swirls wine: Indeed).
It wasn't clear if those not-so-artistic goods, such as the Porsche and Patek, were recovered, but police indicated the paintings were all heading home.
On Wednesday Santa Monica detectives got a tip from Pasadena police stating the art might have been stashed at an Al & Ed's Autosound location at 30 S. Rosemead Blvd., according to the SMPD.
After serving a search warrant there most of the art was recovered and the Al & Ed's manager, 45-year-old Jay Jeffrey Nieto of Canyon Country, was arrested on suspicion of possessing stolen property, cops said.
But wait, there's more.
More investigation led to 40-year-old Wilmer Bolosan Cadiz in the city of San Gabriel. The SMPD alleged that "he was in possession of four of the stolen paintings." He was also arrested.
According to the department:
The last painting was recovered as investigators learned it had been transported to a residence in Glendale. The subject in possession of this painting has been interviewed and is cooperating with investigators.
It's not clear if anyone will be able to collect on the nearly $2 million worth of reward money offered by Gundlach, but it seems like this one was solved by the cops alone.
Still, if anyone has more info on the case, the SMPD would love to hear from you: 310-458-8495.
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