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$25K Reward Offered For Suspects Involved In 2008 Art Heist

LOS ANGELES (CBSLA.com) — A $25,000 reward was offered Friday to help flush the suspects involved in the theft of a dozen paintings – nine of which have since been recovered – stolen six years ago in one of the largest art heists in Los Angeles history.

Raul Espinoza, 45, was arrested in October during an undercover operation at a West Los Angeles hotel while trying to sell the nine recovered artworks, said Laura Eimiller of the FBI.

At a news conference Friday morning, authorities asked for the public's help for more information, and displayed the nine recovered paintings that Espinoza allegedly tried to sell – and were appraised to be worth between $13 and $24 million – for $700,000 in cash.

"Much of the artwork that's displayed today is from the 20s and 30s.," said Bill Lewis, assistant director of the FBI's Los Angeles Office. "So the rich history recovered cannot be overstated."

Investigators have not publicly identified the three paintings that remain unaccounted for.

The recovered paintings were among a dozen stolen from the Encino home of an elderly couple, who have since died, on the morning of Aug. 24, 2008. Investigators say the pieces, which included Marc Chagall's "Les Paysans" and Diego Rivera's "Mexican Peasant," were lifted while the bedridden couple was inside their home, along with their care-givers.

"Due to their condition, they could not assist us for the identification," LAPD Detective Dan Hrycyk said.

Because several people were inside the home, investigators aren't sure whether the heist was an inside job.

In September, investigators started getting tips on the case, which led to a sting operation in West L.A.

"We basically did a buy-bust operation and took him into custody after he provided all the artwork," FBI Special Agent Liz Rivaz said.

The paintings are currently in the possession of the FBI. After the heist, the victim's family received a payout from their insurance company. Investigators say the family will get a chance to buy back the artwork if they decide to return the insurance money.

Espinoza has been charged with one count of receiving stolen property. He pleaded not guilty on Oct. 27 and is being held at the Pitchess Detention Center in Castaic in lieu of $5 million bail.

Anyone with more information on the case can call the FBI's 24-hour line at (310) 477-6565.

(©2014 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

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