‘Jewel robbery’ swindler cleared of violent crimes
Celebrity jeweller Michel Germani will be sentenced next month for staging a robbery to commit insurance fraud – but he has avoided more serious criminal convictions.
He was found not guilty of two other charges last week after a jury at NSW District Court deliberated for about three hours. A previous jury had failed to reach a verdict after deliberating for 22 hours.
Prosecutors were pursuing convictions for aggravated robbery and use of corporal violence, and taking/detaining a person in company with intention to obtain advantage.
“It is a terrific victory for him, and he is very relieved ... the aggravated robbery [potential sentence] was 20 years,” Germani’s lawyer Mark Carmody told insuranceNEWS.com.au.
The flamboyant jeweller admitted helping to plan and co-ordinate a staged armed robbery at his Hilton Hotel store in Sydney’s CBD in January 2023, in a bid to defraud his insurer.
The trial this month hinged on whether an employee knew of the plan and consented to being bound with cable ties.
Germani – who has been in prison about three years – pleaded guilty a year ago to dishonestly obtaining financial advantage by deception and intending to pervert the course of justice.
Sentencing for those crimes will now take place on May 21.
In the days after the fake robbery, Germani submitted a claim form to Barrenjoey Insurance Brokers, underwritten by Lloyd’s of London, stating 164 items with a wholesale cost of $2.82 million and a retail price of $7.54 million were stolen.
The claim was rejected, and he later admitted faking the robbery with the help of others.
Germani began his career with five stores for Al Rajhi, owner of the largest bank in Saudi Arabia. He moved to Australia in 1985 and opened a Circular Quay store for the 2000 Olympics.
His business designed pieces for Princess Diana, the Saudi royal family and Elizabeth Taylor, and sponsored TV show Sale of the Century for 13 years.
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