A painting stolen by the Nazis that was spotted in an Argentinian estate agent's advert has vanished, a prosecutor says following a raid on the home. 'Portrait of a Lady' by Giuseppe Ghislandi was featured hanging above a sofa inside a property near Buenos Aires, which was being sold by the daughter of a senior Nazi who fled Germany after World War Two.

A police raid on the house this week however turned up no painting - but two weapons were seized, federal prosecutor Carlos Martínez told local media. Mr Martínez said they were treating it as an alleged cover-up of smuggling, Argentinian daily Clarin reported.

The newspaper reported that the furnishings had been rearranged and the picture was missing from the wall when they raided the property.

Peter Schouten of the Dutch Algemeen Dagblad newspaper, which first reported the long-lost artwork's reappearance, said there was evidence 'the painting was removed shortly afterwards or after the media reports about it appeared'.

'Portrait of a Lady' was among the collection of Amsterdam art dealer Jacques Goudstikker, much of which was forcibly sold by the Nazis after his death. The paper added that it had made several attempts to speak to his two daughters in Buenos Aires over the years but to no avail. It was only when one of Kadgien's daughters put the house up for sale that they made any progress in locating the missing works. Another looted artwork - a floral still-life by the 17th-century Dutch painter Abraham Mignon - was also spotted on one of the sister's social media, AD reported.