Gundlach's home hit in $10M heist: Report

Gundlach's home hit in $10M heist: Report
Bond fund manager said to have paintings, watches, Porsche and other valuables stolen
SEP 28, 2012
Jeffrey Gundlach, chief executive officer of DoubleLine Capital LP, had more than $10 million in assets stolen when his Santa Monica, California, home was burglarized last week. After returning from a trip, the owner of a Santa Monica residence realized that several paintings, a red 2010 Porsche Carrera 4S, watches, wine and a small amount of cash had been stolen, Santa Monica Police said in a statement on Thursday. The victim is Gundlach, 52, according to a person briefed on the incident, who asked not to be identified because the matter is private. The stolen artwork includes pieces by Piet Mondrian and Jasper Johns, and Gundlach is offering a $200,000 reward for information leading to the recovery of the stolen items, the person said. The burglary occurred sometime between Sept. 12 at 3 p.m. and Sept. 14 at 8 p.m. and the investigation is ongoing, according to the statement. At least 10 paintings and five watches, including one by Breitling, were taken, the police said. The painting by Dutch artist Mondrian is titled “Composition (A) en Rouge et Blanc” and the piece by American artist Johns is called “Green Target.” An untitled work by American artist Cy Twombly also was stolen. Gundlach, manager of the top-performing DoubleLine Total Return Bond Fund (DBLTX), was in New York on Sept. 13 at the Bloomberg Markets 50 Summit. DoubleLine was founded by Gundlach and President Philip Barach in December 2009 and has attracted $22 billion in net deposits in the past 12 months through August, the third-highest amount after Vanguard Group Inc. and Pacific Investment Management Co., according to data compiled by Morningstar Inc. (MORN) Gundlach said last week he may add stock funds to DoubleLine's lineup of bond offerings. The burglary was reported last night by the Los Angeles Times. (Bloomberg News)

Latest News

SEC Says Game Service Roblox Part of ‘Active Investigation’
SEC Says Game Service Roblox Part of ‘Active Investigation’

Short sellers previously said the company was under investigation, though Roblox denied allegations.

Musk’s DOGE descends on CFPB with intention to shut it down
Musk’s DOGE descends on CFPB with intention to shut it down

The Consumer Financial Protection Bureau is in the crosshairs of the Republican group that is widely attempting to dismantle government agencies.

Advisor fighting Finra banishment loses $17.7 million dispute with old firm
Advisor fighting Finra banishment loses $17.7 million dispute with old firm

National Securities Corp. sued the advisor in 2020, alleging breach of contract and unjust enrichment.

Job numbers, inflation leaving room for Fed to hold rates
Job numbers, inflation leaving room for Fed to hold rates

Recent data support a measured pace by the Federal Reserve for the year ahead.

Private assets remain hot despite surging stock market
Private assets remain hot despite surging stock market

Financial advisors are still adding alternatives despite the surge in publicly traded stock prices

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.