Arrests made in multi-million dollar heist
Two suspects were arrested September 26th after robbing over $10 million worth of art and other items from a Santa Monica residence. 45-year-old Jay Jeffrey Nieto and 40-year-old Wilmer Bolosan Cadiz were charged with possession of stolen property after recovering the art from them.
Jay Jeffrey Nieto
Authorities were first alerted of the stolen art on September 14th when the victim returned to his home on the 500 block of 12th Street after a trip and discovered that his home had been burglarized.
In addition to the artwork, a 2010 Porsche Carrera 4S, several expensive watches, wine and a small amount of cash were also stolen. During the preliminary investigation, the Santa Monica Police Department valued the estimated loss to be between $20 million and $39 million.
Wilmer Bolosan Cadiz
A little less than two weeks later, the Santa Monica Police were informed that some of the stolen property was at Al and Ed’s Autosound located at 30 South Rosemead Boulevard in Pasadena. After investigators served a search warrant, they discovered most of the art was on the premises and identified and arrested Nieto, who was a manager at the business.
As the investigation continued, police were led to Cadiz’s residence in the City of San Gabriel. Once there, they recovered four more pieces of art in addition to arresting Cadiz. Later, investigators learned that the last piece of stolen art had been transported to a third location in Glendale. The unidentified subject who possessed the painting has been interviewed and is cooperating with investigators.
An arrest was made and stolen property recovered at Al & Ed’s in Pasadena
According to Santa Monica Police Department PIO Sgt. Richard Lewis, there is no known connection between the victim and the suspects. None of the other stolen property has been recovered.
Police provided a preview of some of the stolen artwork
Santa Monica Police Investigators are continuing to follow up on leads regarding other possible suspects in the burglary and the location of the remaining stolen property. Anyone with information is asked to contact Detective David Haro at (310) 458-8432 or Sergeant Henry Ramirez at (310) 458-8453 or the Santa Monica Police Department (24 hours) at (310) 458-8495.
Read More:
Los Angeles Times: No charges yet after arrests in nearly $10-million art theft
KABC-TV: Santa Monica $10M art heist: 2 men arrested
CBS Los Angeles: 2 Arrested For Allegedly Stealing Pricely Art From Financier’s House
