Grand theft suspect arrested
SANTA BARBARA — The Santa Barbara Police Department arrested Los Angeles County resident Greggory A. Schneider, 45, on suspicion of grand theft.
Police reported that the suspect allegedly had several hundred thousand dollars in cash on hand when he was arrested.
Santa Barbara police detectives issued a warrant for Mr. Schneider after the theft of tens of thousands of dollars in precious metals and jewelry from a local pawn shop.
Mr. Schneider, a coin and collectible dealer himself, allegedly assisted with the inventory and appraisal of items at the victim’s shop.
Security camera footage shows a person Santa Barbara police identified as Mr. Schneider taking a “large amount of inventory” and putting it in a backpack.
Police issued arrest-and-search warrants before locating and arresting Mr. Schneider on June 2.
The bail is set at $50,000.
Detectives are still investigating the incident, and the cash is booked as evidence.
— Annelise Hanshaw