Ten Million Dollars Worth of Valuables Stolen from Bond Wizard
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Jin Lee/Bloomberg via Getty Images(NEW YORK) — Jeffrey Gundlach, the man Barron’s crowned “the King of Bonds” in 2011, has been identified as the victim of one of the largest home heists that ever took place in Santa Monica, Calif.
A source familiar with last week’s burglary, which was first reported by the Los Angeles Times, led ABC News to a third-party tip hotline operated by a spokesperson for Gundlach, which identified Gundlach as the victim. The Santa Monica Police Department has yet to name him.
On Sept. 14, 2012, according to the Santa Monica Police Department‘s report, officers answered a call about a residential burglary in the 500 block of 12th Street that happened sometime between Sept. 12 at 3 p.m. and Sept. 14 at 8 p.m.
“The victim had just returned home from a trip and discovered that his residence had been burglarized, and that numerous high-end paintings and two wooden box art pieces had been stolen from various rooms throughout the home,” read the police report. Gundlach’s red 2010 Porsche Carrera 4S, which was parked in the garage, several expensive watches, wine and a small amount of U.S. currency had also been taken, according to the police, who “conservatively” estimated the value of the stolen items at $10 million.
Police believe a truck or van could have been used in the heist. A detective working on the case declined to comment on whether Gundlach had an alarm or security system in place, citing the nature of the ongoing investigation.
Gundlach first offered a $100,000 reward for any tips leading to the recovery of the stolen items but has upped it to $200,000, said a phone operator for tip hotline.
Gundlach was once the chief investment officer at investment management firm TCW, where he reportedly made about $40 million a year before he was abruptly terminated in 2009, accused of stealing trade secrets. TCW and Gundlach eventually reached a settlement.
Two years later, Gundlach, as CEO of DoubleLine Capital, Gundlach manages more than $30 billion in funds for the Los Angeles investment firm.
Copyright 2012 ABC News Radio