BREAKING NEWS

Six charged in theft of artworks from home of US financier

By REUTERS

JANUARY 5, 2013 06:33

LOS ANGELES - Prosecutors announced on Friday a major break in the investigation of an art heist from the Southern California home of financier Jeffrey Gundlach, charging six people with burglary and other offenses stemming from the caper.

The six, including two arrested in September when the 13 stolen artworks were recovered, pleaded not guilty in Los Angeles Superior Court to charges of burglary, conspiracy, receiving stolen property and being an accessory after the fact.

The paintings, along with pricey watches, bottles of fine wine and Gundlach's red Porsche sports car were taken from his Santa Monica home while the superstar bond-fund manager and CEO of DoubleLine Capital was away in New York.

The overall value of the stolen property was put at $3.2 million. But the bulk of the massive heist consisted of rare, one-of-a-kind works by contemporary painter Jasper Johns, who won the Presidential Medal of Freedom in 2011, the late Dutch abstract artist Piet Mondrian and several other artists.

Gundlach had offered a rewards of up to $1.7 million for information leading to he safe return of his art, which also included pieces by Frank Stella, Franz Kline, Guy Rose, Philip Guston and Hanson Duvall Puthuff.

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