The guitars, reported stolen on Apr. 12, belonged to Petty, Mike Campbell, Ron Blair and Scott Thurston.
Without their instruments, TMZ
reported earlier the rocker had "scrambled" to get replacements before the band's shows, scheduled to kick off today. The Heartbreakers had put out a "no questions asked" reward of $7,500 for return of their instruments (images of the guitars can be viewed here
Today, Petty's stolen guitars have been recovered by police in Culver City, Calif., and several media reports are saying allegedly the theft was an inside job committed by a security guard.
According to E! Online
, Culver City P.D. caught a private security guard and booked the man on suspicion of grand theft. Allegedly, the security guard stole the classic guitars and tried to sell one of them at a Hollywood pawn shop which is what led police on his trail.
Tom Petty issued a statement on his website
, "I am extremely grateful to the Culver City Police Department for a job well done and touched by the outpouring of good wishes and concern from our fans and friends."
Reportedly, police obtained a search warrant and found the other four guitars at the guard's home.
The suspect is Daryl Washington, 51, of Los Angeles, who was booked on Monday for theft. Washington worked for a private contractor at The Culver Studios lot, the studio where the Heartbreakers had been rehearsing.
reported police said the guitars are valued collectively at $100,000. The tour kicks off tonight in Broomfield, Colo.