EXCLUSIVE . . . TIFFANY'S CULPRITS NEAR ARREST

New York City police, acting on a tip, are making a bust in the heist of more than $1 million in jewels from world-famous Tiffany's last Sunday, police sources confirmed to TIME New York correspondent Massimo Calabresi. They expect to recover some or all of the precious purloined stones. Investigators were acting on search warrants for an undisclosed location this afternoon, and expected to arrest one or more suspects tonight. The tipster's motive for coming forward: a $50,000 reward from Tiffany's and its insurers for information on the theft.