Cars are parked outside the apartment building in Munich, Germany,
Monday, Nov. 4, 2013, where 1,500 artworks were found. / AP Photo/dpa, Marc Mueller
$1B trove of Nazi-looted art found in closet
A $1.35 billion treasure trove of art works apparently looted by the Nazis — including pieces by Picasso, Matisse and Chagall — have been found stashed in a storage closet of a reclusive 80-year-old Munich man, the German magazine Focus reports.
The magazine says investigators have valued the works at about 1 billion euros, the equivalent of $1.35 billion.
Focus reports that the works, hidden behind cans of food and cartons of juice, were discovered by chance two years ago as a result of a probe by tax authorities of Cornelius Gurlitt, whose father, Hildebrand Gurlitt, was an art collector and former museum director.
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