SF Chronicle: Hoboken Man Arrested In Relation To Picasso Theft

The San Francisco chronicle is reporting that Hoboken resident Mark Lugo has been arrested in relation to the theft of a Pablo Picasso in San Francisco.

Lugo was charged with suspicion of burglary, theft, possession of stolen property and drug possession, according to the Chronicle, and his bail was set at $5 million.

The paper reported that 30-year-old Lugo was arrested after allegedly taking a drawing by Picasso from a gallery in San Francisco. The paper also reported that the drawing—Tête de Femme (Head of a Woman)—has been found.

Lugo was arrested at a friend's house, according to the Chronicle. According to the paper, he arrived in San Francisco on the Fourth of July.

"Investigators recovered the artwork, minus its frame, in a room at the Hotel Palomar in the South of Market where Lugo had been staying," the paper reported."Police believe Lugo was working alone and had planned to ship the artwork, which the gallery was selling for more than $200,000, to an unknown party."