HOBOKEN - Police say a New Jersey man accused of stealing a valuable Picasso drawing from a San Francisco gallery had $500,000 worth of stolen artwork in his apartment, including another Picasso.
Police in Hoboken raided the home of Mark Lugo this week after receiving information from San Francisco authorities. Officers found a Picasso drawing worth $350,000 that had been reported stolen from a New York hotel, among other pieces in the Washington Street apartment.
Lugo is being held in a San Francisco jail in the July 5 theft of a 1965 Picasso drawing called "Tete de Femme" from the Weinstein Gallery. 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 is also charged with stealing $6,000 worth of wine in April from a Gary's Wine and Marketplace in Wayne.
His attorney, Douglas Horngrad, says Lugo may have "psychological issues."
Cops: Alleged Picasso thief stole wine in Wayne
AP wire services contributed to this report.