Blog Subscription via Follow.it

Showing posts with label Santa Monica. Show all posts
Showing posts with label Santa Monica. Show all posts

September 28, 2012

Friday, September 28, 2012 - ,,,, No comments

Santa Monica Police Department Works with Pasadena Police Department and other agencies to recover art stolen from Jeffrey Gundlach's collection

Art work by Franz Kline stolen and recovered
by Catherine Schofield Sezgin, 
 ARCA Blog Editor-in-Chief

This evening Richard Lewis, Sergeant, with the Office of the Chief of Police for the Santa Monica Police Department sent a copy of the press release regarding the arrests and recovery of the art to the ARCA blog.

SMPD's Sergeant Lewis also responded to two questions via email: did the publication of the photos of the artwork assist in the recovery of the art? Did the owner's offer of a reward assist in the recovery of the art?
The photos were absolutely a help to the investigation.  As for the reward that was offered by the victim, that may have played a role, but at this stage in the investigation, I cannot speak to that.
Here's the press release that shows the art traveled from the Westside of Los Angeles to San Gabriel Valley:
On September 26, 2012, investigators from the Santa Monica Police Department were contacted by members of the Pasadena Police Department who received a tip concerning where the stolen art from Santa Monica was being held. Based on the information received, Santa Monica’s investigators, with the assistance of the Pasadena Police Department, responded to Al & Ed’s Autosound located at 30 S. Rosemead Boulevard in Pasadena to serve a search warrant. 
During the subsequent search, most of the paintings were recovered and one suspect was arrested for possessing stolen property. He was identified as 45 year old Jay Jeffrey Nieto of Canyon Country, the manager of the Pasadena Al & Ed’s. 
As the investigation continued, additional information was developed that led Santa Monica investigators to a residence in the City of San Gabriel. There the investigators contacted and later arrested 40 year old Wilmer Bolosan Cadiz for possessing stolen property; he was in possession of four of the stolen paintings. 
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. 
Santa Monica Police Investigators are continuing to follow up on leads regarding other possible suspects in the burglary and the location of the remaining stolen property. 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. 
Although the investigation continues, cooperation from the following agencies has made the recovery of this valuable art collection possible. 
Pasadena Police Department 
Los Angeles Police Department
Federal Bureau of Investigation
Department of Justice
Interpol
If you wish to remain anonymous, you can call We-Tip at 1-800-78-CRIME (1-800-78-27643), or submit the tip online at www.wetip.com you will remain completely anonymous and may be eligible for a reward, up to $1,000.00 if your information leads to an arrest and conviction, or anonymous tipsters can contact Crime Stoppers by either calling (800) 222-TIPS (8477) or by visiting their website at www.lacrimestoppers.org. To text an anonymous tip to crime stoppers; please view their webpage for detailed instructions. If the information leads to an arrest, the tipster is eligible to receive a reward up to $1,000.00.

Friday, September 28, 2012 - ,,,, No comments

LA Times: 'Jeffrey Gundlach's stolen art collection is recovered'

The Los Angeles Times sent out a 'breaking news' email at 5:59 p.m. on September 27:
Recovered art work by Philip Guston (1950)
Star bond trader Jeffrey Gundlach said his $10-million collection of art, which was stolen this month, has been recovered safely. 
Two suspects have been arrested by Santa Monica police, he said.  Gundlach had offered a near-record $1.7-million reward for the collection's safe return. 
Joe Bel Bruno for the LA Times reports that Gunlach said that 'at least one of the paintings [the Mondrian] was in the midst of being sold" and that his Porsche is still missing. 

Sam Ro for Business Insider reports that Gundlach released a statement thanking Detective David Haro and the Santa Monica Police Department for "their skillful, tireless and respectful attention to apprehending the criminals and recovering all of the artwork stolen."

September 26, 2012

Wednesday, September 26, 2012 - ,,,,, No comments

Santa Monica Art Collector offers Million Dollar Reward for Stolen Mondrian plus $500,000 for other paintings

Composition (A) En Rouge Et Blanc
by Piet Mondrian
by Catherine Sezgin, ARCA Blog Editor-in-Chief

Santa Monica is a liberal seaside town -- once nicknamed 'The Republic of Santa Monica' -- offering access to beach and upscale amenities just 30 miles west of downtown Los Angeles.  This community of rent controlled apartments (located south) and multi-million dollar homes (located north) around Montana Avenue attracts homeless people to the parks and families to the good public schools.  Last year James "Whitey" Bulgar, Boston's notorious Irish mobster and one of the FBI's most wanted criminals for almost two decades was found in a rent-controlled apartment just blocks up from the busy retail district known as The Third Street Promenade.  Now one of Santa Monica's residents, a wealthy art collector and bond trader, has offered a substantial reward, including $1,000,000 for the return of his painting by Piet Mondrian, for art stolen from his home in September.

Jeffrey Gundlach, founder of the investment firm DoubleLine Capital, held a press conference September 24 to offer a $1.7 million reward for the fine art paintings and other objects taken in a burglary now being investigated by Santa Monica police ("Reward offered by L. A. bond guru adds to intrigue over art theft", Los Angeles Times, September 24, 2012).

"Green Target" by Jasper Johns
Gundlach is offering $1 million for the "undamaged return" (or information leading to) of a picture by Piet MOndrian and another $500,000 for the "successful return undamaged" of "Green Target" by Jasper Johns and two box constructions by Joseph Cornell  ("Bond trader offers $1.7-million reward for stolen art collection"LA Now, Los Angeles Times).  At the brief press conference, Gundlach said "no comment" regarding questions about whether or not the 13 pieces of fine art were insured and or any  details about the burglary or the investigation.  In this article, the LA Times showed images and identification provided by the owner of ten of the 13 stolen artworks: "The Cathedral Tours", 1916, by Guy Rose; "Glory of Autumn", 1930, a California landscape by William Wendt; "Untitled", 1958, abstract by Franz Kline; "Number 14," 1949, by Bradley Walker Tomlin; "The Desert Ramparts", 1920, an oil painting by Hanson Duvall Puthuff; "Green Target", 1956, by Jasper Johns; "Composition (A) En Rouge Et Blanc", 1936, by Piet Mondrian; "Medici Boy", 1946, a wood box construction by Joseph Cornell; and "Painting", 1950, by Philip Guston.

Here's a link to the online Santa Monica Patch which also identifies stolen paintings by Frank Stella and Cy Twombly. 

According to a September 19 press release issued by the Santa Monica Police Department:
On September 14, 2012, officers responded to a residence located in the 500 block of 12th Street on the report of a residential burglary that had occurred sometime between September 12th at 3 p.m. and September 14th at 8 p.m. 
"Cathedral Tours" by Guy Rose, 1916
The victim had just returned home from a trip and discovered that his residence had been burglarized.  Numerous high-end paintings and two wooden box art pieces had been stolen from various rooms throughout the home.  Also stolen was the victim's 2010 red Porsche Carrera 4S, which was parked in the garage, several expensive watches, wine and a small amount of U. S. currency. The estimated loss at this time is believed to be in excess of 10 million dollars.  Preliminarily, the the estimated loss is between 20 and 39 million dollars.
Here's a link to the images of the items reported stolen; Sergeant Richard Lewis is the contact person for the police department (richard.lewis@smgov.net).  Although the LA Times (in the above referenced article) names stolen art work as by Jasper Johns, Piet Mondrian and Richard Diebenkorn, the Santa Monica Police department does not identify the artwork by title or artist.  A search through the FBI's National Stolen Art File Search did not show any stolen paintings by either of the three artists.

Here's a link to a 12-minute video discussion between the Los Angeles Times business section journalist and former FBI agent Robert K. Whittman (.  Business reporter Stuart Pfeiffer asks Whittman if it is more likely that the only 'buyers' the art thieves will find for the stolen fine art are undercover law enforcement.

Subscribe to: Posts (Atom)