Jewellery store owner charged with arranging robbery on his own shop

Authorities say Michel Germani organised the robbery to defraud his insurance provider

Police in Sydney have arrested a high-profile jewellery store owner for allegedly planning a robbery at his own shop and making a false insurance claim.

Michel Germani, 65, founder and CEO of Germani Jewellery, was arrested on Monday.

He has been charged with aggravated robbery and depriving a person of liberty, attempting to dishonestly obtain financial advantage by deception, publishing false or misleading material to obtain property, and participating in a criminal group contributing to criminal activity, reported The Sydney Morning Herald.

Authorities said the incident took place on 19 January when two men allegedly demanded access to his shop’s safe and threatened Mr Germani and a female member of his staff at his store in central Sydney.

Authorities said Mr Germani organised the robbery to defraud his insurance provider.

Detective Superintendent Joe Doueihi told reporters on Tuesday that investigators thought “something didn’t seem right about this particular robbery” and took a closer look at Mr Germani and his associates.

The outlet reported that court documents showed Mr Germani made a false statement following the robbery with intent to obtain an insurance claim worth more than $2.8m.

Police said that two other men aged 37 and 57 were arrested and charged in connection with the case last month, reported BBC.

More arrests are also expected in the case.

The jeweller’s website said it had “extensive experience in creating distinctive, cosmopolitan, unique and exquisite jewellery”.

It also stated that it has been “awarded the prestigious Diamond De Beers Awards, designed and manufactured fine jewellery for the Saudi Royal Family, Queen Noor of Jordan, the Duke & Duchess Of Wellington, Elizabeth Taylor, Princess Diana and other well known international dignitaries around the world; thus gaining him international recognition”.

The store claimed to house “a huge range of quality coloured gemstones and loose diamonds which are bought from Belgium, Switzerland and Far East”.

The brand became a household name when it sponsored the television show Sale of the Century from 1988 to 2001.