Art hoarder's whereabouts unknown after German officials make estimated $1B discovery

The mysterious painting hoarder who was revealed to have stashed more than 1,400 works in his apartment – estimated to be worth around $1 billion -- has disappeared after authorities made the discovery.

Prosecutor Reinhard Nemetz told reporters in the Bavarian city of Augsburg that investigators have turned up "concrete evidence" that at least some of the works were seized by the Nazis from their owners or classed by them as "degenerate art" and seized from German museums in 1937 or shortly after.

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