2 arrested in $10-million dollar art heist released on bail

SANTA MONICA, Calif.

Jay Jeffrey Nieto, 45, of Canyon Country and Wilmer Bolosan Cadiz, 40, of San Gabriel were taken into custody last week on possession of stolen property.

At this time, county prosecutors want police to look deeper into a possible connection the men might have had with the actual theft of the paintings.

The high-end paintings were stolen from Southern California financier Jeffrey Gundlach's Santa Monica home while he was away on a business trip.

While most of the pieces of rare art and paintings have been found, the victim's expensive watches, bottles of wine and a Porsche Carrera 4s are still missing.

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