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Los Angeles Police Find Stash of Loot Near Freeway

March 05, 2008  | 

Investigators from the Los Angeles Police Department used a master thief's hand-drawn map to recover hundreds of thousands of dollars of stolen valuables underneath a freeway overpass.

Police told the Los Angeles Times that the loot, mostly jewelry, was found buried near the 118 freeway in the San Fernando Valley.

The treasure haul is some of the ill-gotten gains of Roberto Caveda, who was arrested in 2006 for stealing $15 million in fine art and jewelry, including an Edgar Degas painting then valued at $10 million. Caveda is serving eight to 10 years in state prison on that rap.

Caveda's lawyer passed the hand-drawn treasure map to police on instruction of his client. The lawyer told the Times that he believed Caveda wanted to return the property to his victims because he felt "remorse." Of course, returning the loot may also help Caveda in an upcoming sentencing hearing where he is reportedly planning to ask for a reduction in his sentence.

Among the items recovered was a canary diamond ring that may be valued at $400,000. The jewelry was stuffed into socks that were put into a plastic pipe and buried beneath the overpass.

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