A high-profile Sydney jeweller has been charged after allegedly arranging an armed heist of his own jewellery store in what New South Wales police say was an elaborate attempt to defraud his insurance company more than $2.8m.
Michel Elias Germani – whose business Germani Jewellery, has designed items for the likes of Diana, the former Princess of Wales; Elizabeth Taylor, and the Saudi royal family, according to its website – was arrested on Monday.
Police allege that the 65-year-old initially told officers that he and a staff member were threatened by two men posing as customers at his store in Sydney’s George Street in January.
One of the men allegedly threatened the staff member with a knife, while the other demanded access to the jeweller’s safe, according to police.
The pair allegedly bound the hands and feet of Germani and the staff member with cable ties and then fled the store with a large and expensive haul of jewellery, according to police.
Police last month arrested two people, Shanel Tofaeono, 37, and Mounir Helou, 57, over the alleged robbery.
But Det Supt Joe Doueihi told reporters on Tuesday the police came to believe something “just didn’t seem right” about the alleged robbery. On Monday, police arrested Germani after alleging the robbery was a scam.
Germani faced Downing Centre local court on Tuesday where police alleged he was involved in “planning and coordinating the robbery and attempted to defraud an insurance company”.
Doueihi told reporters on Tuesday the staff member, who was injured in the attack, was “absolutely traumatised” and had no knowledge of the alleged elaborate hoax.
“She was threatened with violence and a knife [and] bound with cable ties on her feet and her hands … she was under the belief that it was a genuine robbery,” he said.
Germani has been charged with aggravated robbery and depriving a person of their liberty, attempting to dishonestly obtain a financial advantage by deception, publishing false or misleading material to obtain property, and participating in a criminal group and contributing to criminal activity.
He made no application for bail and was ordered to reappear in court for a bail review on Thursday.
Germani is the founder and chief executive of the jewellery brand that rose to fame in 1988 when it became a sponsor of the Australian TV gameshow Sale of the Century.
– Additional reporting by AAP
• The main photo and text of this article were amended on 9 May 2023. The location of the alleged robbery was at Germani Jewellery’s store at another address in George Street, Sydney, not in the Queen Victoria Building.
