Score one for Jeffrey Gundlach who now has his Mondrian (and other works) back after offering $1.7m in reward money:

“The focus was on recovering the artwork, and it was all recovered,” Gundlach told The Times. “The thieves had worked on moving the property, but we were able to get a good lead and apprehend them. It’s a great day for the art world.”

He said that Santa Monica police arrested two suspects in the crime, and that at least one of the pieces was in the midst of being sold. A police spokesman did not immediately return telephone calls.

Gundlach Says All Stolen Art Recovered, 2 Arrested (Los Angeles Times)