The owner of a luxury jewellery store has been charged with allegedly orchestrating a robbery on his own Sydney CBD business.
Michel Germani, the owner of Germani Jewellery, was arrested on Monday afternoon after an investigation into a robbery at one of his stores on January 19 this year.
Police claim that Mr Germani, 65, was the mastermind behind the robbery, which he allegedly used to defraud an insurance company.
The alleged robbery occurred at the Hilton Hotel store during an appointment between two male customers, Mr Germani, and a 47-year-old female staff member.
Police said one of the alleged robbers threatened the staff member with a knife, while the other man threatened Mr Germani and demanded access to the safe.
Both Mr Germani and the female worker were then allegedly restrained before the men fled the store.
Two men, from Homebush West and Auburn, have since been charged with aggravated robbery in connection to the incident.
Mr Germani was arrested at the Day Street police station on Monday after presenting himself at the request of officers.
He has been charged with aggravated robbery and deprives person of liberty, attempt dishonestly obtain financial advantage by deception, publish false misleading material to obtain property, and participate criminal group contribute criminal activity.
Mr Germani was denied bail at Sydney's Downing Centre on Tuesday and will face court again on May 11.
Detectives also executed a search warrant at a home at Canada Bay on Tuesday.
Police said the George Street jeweller was allegedly involved in planning and coordinating the robbery along with defrauding his insurance company.
"I can indicate there is sufficient evidence that would implicate the store owner in orchestrating the two males to conduct that robbery upon his store," Detective Superintendent Joe Doueihi said.
More arrests anticipated
Police are unable to comment on the exact quantity or value of goods stolen, but said Mr Germani had lodged a claim for a "substantial amount of jewellery of a sizeable dollar amount" with his insurer.
Detective Superintendent Doueihi said he does not believe the three men had a direct relationship prior to the robbery.
He said the store assistant was left "absolutely traumatised" by the event and sustained some physical injuries.
"The female staff member was not party, or did not have any knowledge of the arrangements that were made by the store owner," he said.
"She was purely an innocent agent and the victim of what she believed was a robbery."
Mr Germani's wife is not a suspect at this stage of their investigation.
"I want the public to rest assure that armed robberies are treated extremely seriously in New South Wales," said Detective Superintendent Doueihi.
"Investigations are ongoing and I do anticipate further arrests."
Mr Germani became a household name in jewellery in the late 1990s when the store sponsored the game show Sale of the Century.
On his website, he credits designing and manufacturing fine jewellery for the Saudi royal family, Queen Noor of Jordan, the Duke and Duchess Of Wellington, Elizabeth Taylor, and Princess Diana.
