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Millions of dollars in contemporary art was recovered Wednesday after a tipster led Santa Monica police to an automotive electronics store in Pasadena and then to at least two residences, police said Thursday.
The art belongs to bond-fund manager Jeff Gundlach, whose Santa Monica home was burglarized earlier this month.
Most of the paintings were found during a search of Al & Ed’s Autosound located at 30 S. Rosemead Boulevard in Pasadena, according to Santa Monica police. The store’s manager, 45-year-old Jay Jeffrey, of Canyon Country, was arrested on suspicion of possessing stolen property.
Detectives were then led to a San Gabriel residence, where investigators found four of the stolen paintings. There, Wilmer Bolosan Cadiz, 40, was arrested on suspicion of possessing stolen property.
The last painting was found at a Glendale residence, police said. The person who had that painting has been interviewed by police and is cooperating with investigators.
Gundlach, the founder of DoubleLine Capital, said the recovery marked a "great day for the art world and all those who seek order and justice in our society."
"My gratitude goes out to Detective David Haro and the entire Santa Monica Police Department for their skillful, tireless and respectful attention to apprehending the criminals and recovering all of the artwork stolen," he said in a statement. "I would also like to thank the many well wishers who offered support and whose optimism over the last two weeks proved accurate."
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On Monday, Gundlach offered $1.7 million for information leading to the successful return of the artwork undamaged. It was not immediately known who would receive the reward.
The bulk of the reward – $1 million of it – is dedicated solely to the safe return of “Composition (A) En Rouge Et Blanc,” an oil-on-canvas piece by Piet Mondrian circa 1936. Another $500,000 is for a 1956 Jasper John’s collage titled “Green Target.”
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"If the people that turn in the tip were part of the burglary they will not receive a single penny," according to Gundlach. "However, if they were righteous people, they will receive every penny."
Still, not all of the stolen property has been recovered, police said.
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Sometime between 3 p.m. on Sept. 12 and 8 p.m. on Sept. 14, burglars made off with loot estimated to be worth $10 million, including a 2012 Porsche Carrera 4S, wine and expensive watches, investigators said.
Gundlach returned to his home in the 500 block of 12th Street on Sept. 14 to find it’d been burglarized while he was away on a trip, investigators said.
Anyone with information is asked to contact Detective David Haro at (310) 458-8432 or Sergeant Henry Ramirez at (310) 458-8453 or the Santa Monica Police Department (24 hours) at (310) 458-8495.
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Leave a Comment:
If I knew where the art was I help sell it and collect the money. I woudn't give it back to this rich a-hole
Spoken like a true anti-American who hates other people's success.
With that kind of reward he's willing to pay after the fact ... he could have had someone not only watching his nice car ... but washing it ... I don't get it?????
Redistribution of wealth is that it Frostbitblue? Let me guess, you're voting Obama,right?
Frostbit: you're a jerk...I wish you what you wish the rich.....heartache...you are such a loser!
fenderbluesjr, congratulation on being so gullible as to put a politically correct spin on every thing you read - at least correct according to what someone else has decided for you that "sounds like" one party or the other. The party line says that pathetic jealousy of the rich could never evolve in a mind that did not also support Obama.
Politically correct thinking: No Democrat could possibly congratulate the materially successful, and no Republican could ever favor public assistance for poor folks. That would just cause overload in the brain circuits.
Much easier to just accept the party line on what to believe instead of engaging in critical thinking.
What an idiotic statement. You would rather run the risk of going to prison for your cut of the sale of stolen property than legally collect a $1.7 million reward. That does not say too much about your ethics or your intelligence. You also sound like you are extremely envious of the success of others. This guy founded and built up a very successful business. He is entitled to spend his wealth however he wants so long as it is legal. In addition, he is just as entitled to get his property back as some average working stiff who has his car stolen. The fact that he offered such a large reward for the return of these pieces of art work tells me that this is about more than just the money to this guy. If it was just about the money he could have simply collected the insurance and taken his chances with the police finding his property. It seems that these particular pieces of art mean something to him beyond their monetary value. You, on the other hand seem to care about nothing other than money and do not care what you have to do to get it. Obviously you do not care about your reputation or about doing what is right, so long as you get the cash without having to work for it.
Well frostbit, have you got enough negative attention today to compensate for being poorly potty trained by an ana* retentive mother...?
Or should you require more to prop up the ego you present to the world to hide the emptiness and lack of identity...?
It would not be a problem to provide you with an in depth psycho analysis.
GreenTimer, I am merely quoting what Barack Obama actually said when he was an Illinois State Senator. That he would be in favor of some form of redistribution of wealth. And this was back in the days when he wouldn't vote on anything in Congress, when he and Michelle were close friends with Bill Ayers and his wife, and knelt in the church before Rev. Wright. Scary stuff,right ? No? Then ask yourself who is gullable here? The real difference I feel between a Democrat and a Republican is a Dem has a hard time admitting he or she is wealthy. Because it makes it harder for the Democrat's to push the lies about being in the corner of the middle class. Frostbitblue strikes me as a person that believes because someone is rich that they had to have stole it or came by it illegally. So it's OK for me to steal it from him because he didn't deserve it in the first place. AKA Romney is filthy rich so he and all Republican's are crooks or Obama as Robin Hood, stealing from the rich and giving to the poor. I am in no way gullible as you say, I'm from Chicago, anyone else who is not from around here is at risk of being so. GreenTimer I try to keep an open mind but I have a hard time trusting Chicago Machine Democrat's. You would do well to engage yourself in some reseach about the corrupt Democratic party that has had a strangle hold on Chicago for 50yrs. Also the public assistance you claim were not in favor of is wrong,help people how they need to be helped I say. However, the public aid in Chicago is designed to enslave poor people,no exit plan, just keep voting Democrat,and often! Read up on it and get back to me.
A True piece of sh*t attitude. Let me guess, you're a whiny little welfare baby?
fenderblue, let's suppose everything you say is absolutely true (except of course, you are not quoting anything from Obama except a single word). None of your commentary in anyway relates frostybit's paathetic comment to voting for Obama.
And just for clarity, what is redistribution? Social Security? Oil depletion allowance? Medicare? Taxing wages at twice the amount of capital gains (oh, that's to encourage investment, right?). Capitalism creates wealth. Something cannot be created without its being redistributed.
In the last 30 years, the redistribution of wealth has been toward the already wealthy and away from the middle class. That may be good or it may be bad, but it is a fact. Life would come to a screeching halt without change, without creation, without reassignment.
Please tell me what redistribution is, and then how an economy functions without it.
Thanks for your dialogue.
If you offer a reward I believe it is a contract.You pay the reward period.It really doesn't matter how you feel about it .Sorry-ass people like him get punished in the end.And yes unfortunately sometimes crime does pay -Wall Street is a prime example. Live and let live.I'm sure the owner of the art didn't make all that money to buy the art without some questionable ethics along the way.Karma is a b!tch-something for us all to remember.
You've got it in for this guy as bad a Frostbitblue at post # 1. The guy can distribute his personal wealth in any way he sees fit. Sorry, you don't get a say-so in the matter.
Funny how the occupants of a certain demographic only despise wealth and success when they believe it is achieved by a member of a group they stereotype and demonize.....
Con-science, boy it's commendable that you don't do any sterotyping of "the occupants of a certain demographic." That would so "demonize" that certain demographic.
F*ck anyone who thinks theft is ok if the other guy is rich. The only 'sorry-ass person' here is you, crawford tx. Your post reeks of petty jealousy that someone actually had more money than you.
Frostbit you are one of the entitled self-righteous morons that need to be shipped off to some deserted island cause that's what you deserve. Maybe instead of writing crap about someone who decided to make something of their life you should quit b***ching about how crappy your own life must be and get a life yourself.
So, you can sell the art to become a "Rich As#Ho!e"?
Ya...ok!
Stop stealing.....the government hates competition!
I would expect someone with that kind of property to have major security. How did anyone get around that?
I think Al and Ed may need an attorney.
I wonder how many clients he screwed to make his money ???
"The art belongs to bond-fund manager Jeff Gundlach, whose Santa Monica home was burglarized earlier this month."
Poor people were just collecting their entielements under the Obama RE-distribution plan.
Mmm, a fund manager with $10 mill in assets lying around his home.......perhaps he's the one who should be investigated.
Kiwipete, and why is that? Stereotype much? In your eyes all bond managers are crooks? That is about as insane a conclusion as people viewing Wilmer Bolosan Cadiz's mugshot and concluding everyone of his ethnicity must be a crook.
Guess Al & Ed’s Autosound will be located at the jail now.
Frostbit is a moron. Obviously the thieves didn’t know exactly what they had with the art. They left pieces that are worth more. It's not like they can just go out and sell a million dollar painting. You'd go out and help them sell it? lol....that by itself would be hilarious to watch. You're richer than other people, should they all be cynical and angry at you for where your life is?
If they could sell the stuff at all, they wouldn't get $1.7 million for it, unless they were a lot more professional than they appear to be.
A note to Mr Gundlach,Gather yee stores on this earth for rust and moth and thieves by night to take.
My best quotation : You don't see a U-Haul trailer hooked up behind a hearst,you sure can't take it with you.
Concentrate on charities and being a good samartian
Who says he doesnt do this Sandy? You, attacking someone for being rich. I think he's a better person than you are with your incredible jealousy. You do realize that people can be both successful and great people right?
Yes, we are all aware of how many of the gripers would become Robin Hood if they won the lottery.
No fancy homes, cars or private jets, no fabulous vacations, no shopping sprees in Beverly Hills, you would just continue your meager existence and give all the money away to the less fortunate...
LoLzZz : P Thanks for the laugh!!!
His money Sandy, he doesn't need you flapping your lips telling him how he should spend it.
Jasper Johns'
Bond-manager=crook
Success hater=pseudo-liberal (libtard)
faggot = republican
Did anyone read the recent article about the newest Mona Lisa?
When I saw it at first glance I could see the facial outline of Natalie Portman very slightly in the out line of the Mona Lisa's face.
What an interesting story to tell and write about the Mona Lisa actually being a DaVincian Key Artwork Piece to solving the bloodline of Jesus which once discovered could pave the way to linking Jesus to Alexander the Great.
So entangled is the stem of the Rose that she sits comfortably at the center for all time.
that some incredible amount of tolen items......i had some items stolen but much lesser value and beleive these items been found and waiting for them to be return.......just the right civilized thing to do in a uncivilized world.....later world...
If somebody is trying to incite bad feelings toward the Hispanics they are doing a good job substituting the pictures of all these white guys committing crimes with pictures of Hispanics when we know they are only coming here for a better life.
It is not incumbent upon the United States to provide a "better life" for anyone. Especially when there are not enough jobs for the ones who were born here.
Mexico, China, Central America, Eastern Europe, whatever, it is the responsibility of each country to solve their owen issues so their own citizens wont abandon their land.
+1 to Con-science...
Mr. Orthehighway, you need to get back on that highway to your native land and be a part of the solution. Currently your philosophy is a hinderance on this great nation and we really don't need any more garbage men and fruit pickers.
Now if we're done with blaming Barak Obama for robbing this guy's house, can we look at the interesting facts of the case that actually do make a political ststement?
Notice that the handsome profits that this gentleman realized on his bond-dealing were not put in a bank (since as a financier he knows his actions and those of his profession tend to make money worthless), and so were not available to be lent out to eager entrepreneurs.
And they were not invested in "job creation", as reactionaries assure us ALL good capitalists are aching to do. No, that would require the rich to actually care about this Nation and its People.
Notice. He invested in foriegn art, foriegn watches and foriegn cars.
With all the hubbub over "success haters", you're missing the larger point: the beneficiaries of our skewed taxation system are NOT investing in America, NOT investing in jobs, not concerned with America at all.
He couldn't even be bothered to hire an American alarm company by the sound of it!!!
You have no idea how much money he has in the bank or where he bought the art. Art is international, it may have been imported, that part of it that was imported, many years ago.
You jump to conclusions just because this person has been successful while you, apparently, have been a failure.
Art, like money, is universal and doesn't have 'citizenship' in any country.
It is robbery whether it is stolen from you or stolen from me. Mine isn't likely valued this high though. LOL
I'm glad the owner is getting his property back.
I love art. I wish I had the money to own a few pieces that touched me but if they were really good I would need lots of money to take care of them properly so they would not be damaged by neglect. I don't have access to that kind of money so I am very grategul to patrons of the arts who make it possible for me to see great and even some not so great art at the museums they fund.
As for the thieves and the potential buyers, who usually know the art is stolen, you have my contempt.
Thomas Crowne did it!!! Diversion people, diversion. Or, maybe his company needs some public attention and name recognition???