UPDATE: Banker Gundlach Ups The Reward For His Stolen Artwork To $1.7 Million!

Bullet Shih Sep, 2012 0
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In the world of finance, timing is everything when it comes to reaping riches.  Well Reuters has just reported that the reward for information leading to the safe recovery of the items stolen from the Santa Monica home of Jeffrey Gundlach has exploded from a mere $1000 to the current figure of $1.7 million.  While we reported the theft of the original 13 works, Gundlach appears to be specifically interested in the pieces, by Mondrian, Johns, and Cornell.  Reuters writes,

During a news conference in Los Angeles on Monday, Gundlach said a $200,000 reward initially offered for tips leading to the undamaged return of his art works remains in place.

But he posted a new $1 million reward for a 1936 oil on canvas by Mondrian called “Composition (A) En Rouge Et Blanc,” plus an additional $500,000 for three works together – a 1956 Johns piece called “Green Target” and two wood-box collage works by Joseph Cornell, “Medici Princess” and “Pinturicchio Boy.”

Anyone providing information resulting in the successful recovery of all 13 works, including pieces by Frank Stella, Franz Kline, Guy Rose, Philip Guston and Hanson Duvall Puthuff, would stand to receive the total reward of $1.7 million.

He emphasized that rewards would only be paid if the works were returned undamaged…

An anonymous telephone tip line was set up in conjunction with the rewards at 855-692-4997, along with an anonymous online tip site at www.wetip.com.



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