Jeffrey Gundlach, the CEO of DoubleLine Capital whose home was burglarized earlier this month, has offered some $1.7 million for information leading to the recovery of stolen artwork, the San Francisco Chronicle reports.
The reward includes $1 million for the recovery of a painting by Piet Mondrian and $500,000 for a Jasper Johns work and two pieces by Joseph Cornell, provided they are not damaged.
The rewards are on top of the $200,000 Gundlach had offered last week for information leading to the recovery of various items including watches and a red 2010 Porsche Carrera 4S from his Santa Monica, Calif. residence. The loss is estimated at more than $10 million.
Fixed-income expert Gundlach, who was previously head of TCW's $12 billion Total Return Bond Fund, was terminated from his lead TCW investment position due to threats he made to leave the firm and take “key employees with him,” then TCW spokesperson Erin Freeman told ASR sister publication Investment Management Weekly on December 7, 2009.
Ten days later, Gundlach announced that he formed DoubleLine, his Los Angeles-based money management firm. He also revealed the addition of Philip Barach as president of his new firm. Barach was a former group managing director of the TCW MBS group.