According to police, 44-year-old Justin Noel Livick was arrested Saturday for receiving stolen property. Police say the person who actually stole the statue has not been caught.
The incident happened at the Barakat Gallery on La Cienega Boulevard last week and was caught on video.
The gallery's security cameras captured the suspect pulling up to the gate in a truck. He managed to get inside a few moments later.
The thief remains on the run. Anyone with information is urged to contact police.
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Buddha statue worth $1.5 million stolen from West Hollywood art gallery