Steven Spielberg found with stolen $700k painting

The FBI said a Norman Rockwell work stolen from suburban St. Louis more than three decades ago has been found in Steven Spielberg's art collection. The painting, Rockwell's "Russian Schoolroom," was snatched during a late-night burglary at a gallery in June 1973. The FBI said the Oscar-winning filmmaker purchased the painting in 1989 from a legitimate dealer and didn't know it was stolen until last week.

The bureau said Spielberg is cooperating with the FBI and will retain possession of the Russian Schoolroom until its "disposition can be determined."

The oil-on-canvas painting shows children in a classroom with a bust of communist leader Vladimir Lenin. Early FBI estimates put the painting's value at $700,000. Article here.