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Arrest made in Santa Barbara grand theft investigation, hundreds of thousands of dollars found by police

Cash found and booked, Santa Barbara Police grand theft
Cash found and booked by Santa Barbara Police Department
Posted at 12:15 PM, Jun 09, 2021
and last updated 2021-06-09 23:55:40-04

The Santa Barbara Police Department arrested a Los Angeles County man in response to a May 26 grand theft investigation.

A Santa Barbara jewelry and pawn shop reported the theft of thousands of dollars’ worth of precious metals and high-end jewelry.

Police say Greggory A. Schneider, 45, was arrested on June 2 after detectives served a search and arrest warrant in connection with the theft.

Detectives say they found several hundred thousand dollars in cash in Schneider's possession at the time of his arrest, which was booked as evidence.

Santa Barbara police conducted the initial investigation. They say Schneider was a coin and collectible dealer involved with inventory and appraisal at the shop.

Security cameras reportedly show Schneider taking a large amount of the shop’s inventory and placing it in a personal backpack, according to police.

Schneider was booked into the Santa Barbara County Jail and faces felony charges of grand theft from an elder. His bail is set at $50,000.

The investigation is ongoing.