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Santa Monica $10M art heist: 2 men arrested

Jay Jeffrey Nieto, 45, (left) and Wilmer Bolosan Cadiz, 40, (right) were arrested in connection to a $10 million art heist in Santa Monica.

September 28, 2012 12:00:00 AM PDT
Two people have been arrested in connection to a $10 million art heist.

Investigators said they've recovered all the high-end paintings stolen from the Santa Monica home of financier Jeffrey Gundlach.

Gundlach's company had offered a nearly $2 million reward for the paintings and other possessions.

Acting on a tip, police searched Al & Ed's Autosound in Pasadena and found several paintings. More were found in homes in San Gabriel and Glendale.

Jay Jeffrey Nieto, 45, of Canyon Country, and Wilmer Bolosan Cadiz, 40, of San Gabriel, were arrested for possession of stolen property.

More than a dozen pieces of artwork were stolen, including works by Piet Mondrian, Jasper Johns and California impressionist Guy Rose.

The investigation is ongoing. Anyone with information was asked to call the Santa Monica Police Department at (310) 458-8495.