Arrest made after bronze horse statue stolen from New Jersey racetrack

Published Sunday July 20th, 2008

THE ASSOCIATED PRESS

CHERRY HILL, N.J. - Police say a bronze horse statue stolen from a now-defunct New Jersey racetrack has been broken up and sold to a salvage yard for a fraction of its value.

At the going rate, the bronze from the nearly one-tonne statue sells for about US$4,000. As a piece of art, it was worth about $500,000.

The statue was cut off its base outside the old Garden State Park horse racetrack.

Part of it was found nearby, the rest at a Camden salvage yard.

Police say a tip led to Saturday's arrest of 33-year-old Ian MacDonald.

He is charged with theft and conspiracy.

Police are looking for three other suspects.

MacDonald is being held in lieu of $55,000 bail.

Messages left with the police spokesman and at MacDonald's home weren't immediately returned.

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