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September 28, 2012 at 10:35 AM
Star money manager and Investment Advisor October cover subject Jeff Gundlach received good news Thursday night, as authorities announced the recovery of his prized artwork. Two suspects are in custody.
Gundlach’s home was burglarized two weeks ago in which valuable art, wine, watches and cash were taken, in addition to his red 2010 Porsche Carrera 4S. While the art was recovered, none of the other items were found.
The bulk of the audacious heist consisted of rare works by contemporary painter Jasper Johns, and the late Dutch artist Piet Mondrian as well as several other artists.
Gundlach, CEO of DoubleLine Capital, had called a dramatic and chaotic press conference in downtown Los Angeles on Monday, in which he offered a total of $1.7 million for information leading to the recovery of the art. A condition of payment was that the 13 pieces of art are returned undamaged.
“The focus was on recovering the artwork, and it was all recovered,” Gundlach told the Los Angeles Times. “The thieves had worked on moving the property, but we were able to get a good lead and apprehend them. It’s a great day for the art world.”
