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Arrest made in stolen N.J. bronze horse statue
Statue was taken from a former racetrack and sold for salvage
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CHERRY HILL, N.J. - Police said 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 1-ton statue sells for about $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 said 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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