Two Suspects Are Now in Police Custody |
SANTA MONICA, Calif. (KTLA) -- Two men are under arrest and about $10 million worth of art stolen from a home in Santa Monica has been recovered.
Most of the paintings were found when authorities served a search warrant on a car stereo store in Pasadena, Sgt. Richard Lewis of the Santa Monica Police Department said in a statement.
A suspect, 45-year-old Jay Jeffrey Nieto of Canyon Country, who is a manager at the Pasadena Al & Ed's was taken into police custody.
The investigation then led to a home in nearby San Gabriel, where police arrested 40-year-old Wilmer Cadiz.
He was allegedly found in possession of four more paintings, and one final painting was found at a home in Glendale.
Santa Monica officers say they were able to close the case after receiving a tip from the Pasadena Police Department.
The owner of the art, bond-fund manager Jeffrey Gundlach, 52, returned home from a business trip on Sept. 14 to find that more than a dozen paintings were missing.
He had offered a $1.7 million reward for the art's return; however, it is unclear who will receive the reward.
The thieves also stole expensive watches, pricey bottles of wine and a red Porsche that has not yet been not recovered.
Both men are due in court Friday.
VIEW PHOTOS OF STOLEN ITEMS
Most of the paintings were found when authorities served a search warrant on a car stereo store in Pasadena, Sgt. Richard Lewis of the Santa Monica Police Department said in a statement.
A suspect, 45-year-old Jay Jeffrey Nieto of Canyon Country, who is a manager at the Pasadena Al & Ed's was taken into police custody.
The investigation then led to a home in nearby San Gabriel, where police arrested 40-year-old Wilmer Cadiz.
He was allegedly found in possession of four more paintings, and one final painting was found at a home in Glendale.
Santa Monica officers say they were able to close the case after receiving a tip from the Pasadena Police Department.
The owner of the art, bond-fund manager Jeffrey Gundlach, 52, returned home from a business trip on Sept. 14 to find that more than a dozen paintings were missing.
He had offered a $1.7 million reward for the art's return; however, it is unclear who will receive the reward.
The thieves also stole expensive watches, pricey bottles of wine and a red Porsche that has not yet been not recovered.
Both men are due in court Friday.
VIEW PHOTOS OF STOLEN ITEMS
