Germani Jewellery: Michel Germani accused of staging hit on his QVB Sydney store in insurance fraud
Rumored jeweler is accused of faking an armed robbery of his own store to claim $2.8 million in insurance money — after he and a female staffer were ‘held at knifepoint’
- Jewelry store owner suspected of planning robbery
- Michel Elisa Germani was arrested on Monday
- He is the owner of Germani Jewelery in Sydney
A high-profile jeweler has been accused of committing an armed robbery of his own store in an attempt to swindle an insurance company out of $2.8 million.
Michel Elisa Germani, 65, is said to have orchestrated the hit on Jan. 19 at his Germani Jewelery luxury store on George Street in Sydney’s QVB.
Police allege he and a female employee, 47, were held at knifepoint by two men who scheduled a meeting with the CEO and founder.
On Monday, Germani was arrested and charged in the incident with police alleging he staged the robbery in an attempt to defraud an insurance company.
The 65-year-old was charged with four counts, including one attempting to gain an unfair financial advantage through deception and one count of publishing false or misleading material to obtain property.
Police will allege that after the alleged robbery, Germani attempted to file a claim with Barrenjoey Insurance in the amount of $2,821,348.
Michel Elisa Germani, 65, is believed to have orchestrated the ‘carefully planned’ robbery at his luxury shop Germani Jewelery in George Street’s QVB on January 19.
Police allege Germani and a female employee, 47, were held at knifepoint by two men who arranged an appointment with the jeweler (pictured is the luxury store)
The jeweler appeared before the Downing Center local court on Tuesday morning and did not apply for bail. He must appear in court again on May 11.
Detectives investigating the incident last month arrested 37-year-old Shanel Tofaeono at a home in Rydalmere, western Sydney.
He was charged with aggravated theft and deprivation of liberty of a person, participation in a criminal group, contributing to criminal activities and possessing or using a prohibited weapon without a license.
Tofaeono was denied bail and is expected to return to a Sydney court on June 8.
A second man has been charged with aggravated theft and deprivation of liberty, participation in a criminal group and contributing to criminal activities.
An image from NSW Police regarding the arrest of Michel Germani after he was charged with planning an armed robbery at his Sydney shop
Police will allege that after the alleged robbery, Germani attempted to file a claim with Barrenjoey Insurance in the amount of $2,821,348 (pictured, an ad for the store)
The 57-year-old appeared before Parramatta local court last month, where he was also denied bail. He is due to appear in court on May 10.
Germani Jewelery has been an established brand in Sydney since 1985 and is credited with supplying jewelery to the Arab royal family.
The jeweler has also designed and crafted pieces for Princess Diana, Elizabeth Taylor and the Duke and Duchess of Wellington, according to its website.
In Australia, the luxury brand became a household name after becoming the exclusive sponsor of the TV show Sale of the Century from 1988 to 2001.
Daily Mail Australia has contacted Germani Jewelery for comment.