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Rating:Gundlach Wants to Give You $1.7MM Not Rated 1.0 Email Routing List Email & Route  Print Print
Monday, September 24, 2012

Gundlach Wants to Give You $1.7MM

Reported by Neil Anderson, Managing Editor

Jeff Gundlach is offering you $1.7 million if you can help find 13 pieces of stolen modern art.

Today at a press conference at 1pm (4pm Eastern Time) in the Wells Fargo building in downtown Los Angeles, the DoubleLine Capital [profile] CEO promised three rewards for the return of the artwork, stolen from Gundlach's Santa Monica home during a robbery between September 12 and 14. Gundlach's Porsche Carrera 4S was also stolen in the same incident.

"The reward is for information leading to the recovery of undamaged stolen art, not for information leading to an arrest or conviction," an industry insider familiar with the situation told MFWire. "The priority here is to recover artwork of irreplaceable cultural, historic and artistic value."

"This is a matter of him as a private citizen as opposed to part of the corporation," that source added, noting that while DoubleLine's headquarters is also in the Wells Fargo building, the press conference did not take place in DoubleLine's offices.

The bulk of the reward is the $1 million slated "for the unharmed return" of a Piet Mondrian, "Composition (a) En Rouge Et Blanc" from 1936. That piece features Mondrian's "double line" style that Gundlach's startup's brand is an homage to.

The next $500,000 of the reward is slated "information leading to the recovery" of three boxes: Jasper Johns' "Green Target" from 1956, and Joseph Cornell's "Medici Princess" (1952) and "Pinturicchio Boy"/"Medici Boy" (1946).

The remaining $200,000 is set aside "for information leading to the remaining artwork unharmed". Those 10 paintings at: Cy Twombly's "Untitled" (1970), Richard Diebenkorn's "Untitled #19", Bradley Walker Tomlin's "Number 14" (1949), Frank Stella's "4 picavia" (1961), Philip Guston's "Painting" (1950), Franz Kline's "Untitled" (1958), William Wendt's "Glory of Autumn" (1930), Guy Rose's "The Cathedral Tours" (1916), and Hanson Duvall Puthuff's "The dessert ramparts."

According to Gundlach's release, "the investigation is ongoing" and involves Detective David Haro and Sergeant Henry Ramirez of the Santa Monica Police Department. 

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