Victim of $10M theft offering $200,000 reward

Sep 21, 2012, 6:43 PM

SANTA MONICA, Calif. (AP) – A wealthy bond-fund manager who lost his expensive Porsche and irreplaceable paintings by Jasper Johns, Richard Diebenkorn and other prominent artists to burglars is offering a $200,000 reward for their safe return.

Jeffrey Gundlach returned to his Santa Monica home from a business trip earlier this month to find bare walls where the paintings by Johns, Diebenkorn, Piet Mondrian, Guy Rose and Hanson Duvall Puthuff had once hung, the Los Angeles Times reported Friday (lat.ms/UxOEAH).

The thieves also lifted expensive watches and pricey bottles of wine, as well as some cash. They apparently then drove off in Gundlach’s red 2010 Porsche Carrera 4S, closing the garage door behind them.

Police estimate they got away with $10 million worth of loot.

The item that had the most sentimental value to Gundlach, the Times reported, was Mondrian’s “Composition (A) en Rouge et Blanc.” The 52-year-old bond-fund manager admired the image with its prominent double lines so much that he borrowed it for his investment firm, DoubleLine Capital of Los Angeles.

Police believe the burglars struck sometime between Sept. 12 and Sept. 13 while Gundlach was in New York on a business trip. They have declined to say if they believe his house was targeted or if he was a random victim.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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Victim of $10M theft offering $200,000 reward