A prominent painting looted by the Nazis has reportedly disappeared once more, as revealed by Argentine police following a raid on a house in Buenos Aires. This artwork, 'Portrait of a Lady' by Giuseppe Ghislandi, was prominently displayed in an advertisement by an estate agent, highlighting its significant historical value.

The painting was hanging above a sofa within a property listed for sale by the daughter of a senior Nazi official who fled to Argentina post-World War II. During the recent police raid, which aimed to recover the artwork, authorities found no trace of the painting but did seize two weapons, indicating a potential smuggling operation. Federal prosecutor Carlos Martínez suspects a cover-up, according to reports by the local publication, Clarin.

Moreover, the property had been rearranged, and the purported location of the painting was now occupied by a large rug and different decor. Notably, this painting was part of the collection belonging to Amsterdam art dealer Jacques Goudstikker, who forced to sell much of his collection to the Nazis before his death.

For over 80 years, the whereabouts of Ghislandi's captivating portrait of Contessa Colleoni remained unknown until its recent appearance. This has raised questions and intensified the calls for restitution of artworks looted during wartime.

Documents from AD's investigative reports suggest this particular painting was previously owned by Friedrich Kadgien, an SS officer closely associated with Hermann Göring. Kadgien moved to Argentina in the aftermath of the war and passed away in 1979, leaving behind a complex legacy intertwined with lost art.

Following the recent developments, Goudstikker's surviving heirs, including his daughter-in-law Marei von Saher, have expressed their determination to reclaim every piece of artwork taken unlawfully from their family legacy.