New information emerges surrounding Cannes diamond heist, no arrests yet

August 22nd, 2013 by Noam Flint

Precious gemstones, whether you’re talking about colored diamonds, rubies or emeralds, have been held in high esteem ever since they were first discovered. While we may never know who first came across a diamond, there’s no doubt that these shimmering stones are highly valued, so much in fact, that thieves have attempted (and succeeded in) stealing them from their owners. The latest diamond heist took place last month in Cannes, France, and while the burglars have yet to be caught, more information about the jewels comes to light each day as the search continues.

Stolen gems worth more than suspected

When news first broke about the robbery, which has so far eerily followed the plot of Alfred Hitchcock’s “To Catch a Thief,” police investigating the crime first claimed the stolen diamonds were worth about $53 million. This sum is certainly far from pocket change, but it turns out that the cops were quite a bit far from the mark. The gems, which were taken by an armed robber during a diamond show at the Carlton International Hotel in Cannes July 28, are actually worth closer to $136 million, which would make this the most expensive jewelry heist in recent memory, according to The Huffington Post.

Photos leaked in effort to get gems back

There has been plenty of mystery surrounding this high-profile crime, the least of which being what the jewelry looks like, but The Telegraph reports that this question has been answered. Insurance company Lloyd’s of London recently released photos of the pieces that are currently in the thieves’ hands, in the hopes that someone might have information on their whereabouts. However, there’s a good chance these jewels have already been altered.

“You have two to three days to trace the diamonds before they disappear forever,” Vashi Dominguez, a London-based diamond expert, told The Telegraph. “They will be swiftly cut, polished and turned into something different. It’s easily done if the thieves have the right connections.”

Hefty reward for anyone who has information

The briefcase that was lifted from the Cannes hotel contained a number of stunning, diamond-encrusted pieces, including a heart-shaped pendant and an Art Deco necklace that featured both diamonds and emeralds. Lloyd’s is also currently offering a €1 million reward for anyone who can provide information that leads to the thieves. The problem with this is that there is always a chance the robbers themselves could come forward to claim the money, but the news source indicates there are safeguards in place to prevent this.

“We have to get the jewelry back first, evaluate the value of the recovered jewelry and then, once the police is satisfied we’re not about the recompense the robbers, we can arrange the payment,” John Shaw, a risk manager at Lloyd’s, told the news source.

For now, it remains to be seen whether the jewel thieves will get away with their daring crime – they stole the jewels in broad daylight – or if they will be brought to justice and the diamonds safely returned to their owners.