Seven paintings that were temporarily on display at the Kunsthal Museum in Rotterdam were stolen in 2012 in a raid that lasted only three minutes, in what the Dutch media called "the theft of the century".
A court in the Romanian capital ordered the heist's mastermind Radu Dogaru, his mother Olga, Eugen Darie and Adrian Procop to reimburse the paintings' insurers.
Prosecutors put the total value of the haul at over USD 24 million while art experts at the time of the heist had claimed the paintings were worth up to 100 million euros.
She later retracted the statement but a separate investigation is under way to determine if the masterpieces did end up in ashes.
Ernest Oberlander-Tarnoveanu, director of Romania's National History Museum, said evidence of "painting primer, the remains of canvas and paint" were found in the stove, but experts must determine whether the ashes came from the missing paintings.
The works include Monet's "Waterloo Bridge, London" and Picasso's "Harlequin Head". None of them was equipped with an alarm.
"In the first place, we don't believe the stolen paintings were the originals and secondly it is up to the museum to pay because it took the stupid risk of displaying the artwork without a proper surveillance system," he added.
The paintings had been loaned to the museum for a show to celebrate its 20th anniversary by the Triton Foundation, which was set up to look after the art collection amassed by the Dutch investor Willem Cordia, who died in 2011.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
