A stolen Picasso art piece worth $200,000 was found in the apartment of a man from Hoboken, NJ. The drawing called “Tete de Femme”, above, was among a few art pieces that were stolen from a San Francisco art gallery. A few other pieces of art work were found in the Hoboken apartment and the man who was arrested faces a huge amount of bail money. Find out who much bail money he would have to post to be a free man after the jump.
@Julie1205
A New Jersey man accused of stealing a valuable Picasso drawing from a San Francisco art gallery has pleaded not guilty to burglary and grand theft charges.
Mark Lugo entered his plea in a San Francisco court Friday in connection with the theft of a 1965 piece worth more than $200,000 called “Tete de Femme.”
Superior Court Judge Samuel Feng rejected a request to reduce Lugo’s $5 million bail, saying the 30-year-old suspect posed a threat to public safety and local business owners.
Lugo’s attorney, Douglas Horngrad, had argued that the bail was set too high because of “overhyped media” coverage.
Meanwhile, authorities said Thursday they found artwork reported stolen from New York galleries and hotels in Lugo’s apartment in Hoboken, N.J.
