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Smash-and-Grab Thieves Take Jewelry Worth $1M+

Two of the three suspects have been caught.

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Police say three men took more than $1 million in jewelry from a Jared the Galleria of Jewelry store in Crown Point, IN.

They tossed the merchandise into bags after smashing cases at the store, Nwi.com reports.

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Two of the men ran away, dropping much of the jewelry in the process. Forty-year-old Altonio Benson and 19-year-old Darren S. Bell were soon captured by police.

The robbery occurred at about 7 p.m. Friday.

A third man has not yet been caught. He is believed to have fled in a stolen vehicle.

The men were reportedly wearing ski masks and used hammers to smash the cases.

Read more at the Nwi.com

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Fugitive Jeweler Arrested in $2B Fraud Case

India is seeking to extradite him.

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Nirav Modi, the billionaire jeweler who’s suspected in a $2 billion fraud case in India, has been arrested in London, The Telegraph reports.

He was arrested on behalf of Indian authorities, and he appeared Westminster Magistrates’ Court to fight extradition to India, according to the newspaper.

In court, he “spoke only to confirm his details and to refuse to submit to extradition” related to embezzlement allegations, The Telegraph reports.

He’s due in court again on March 29.

Modi had been staying in a high-dollar apartment in London’s West End, according to the newspaper.

Last year, The New York Times described Modi as being “on the run” and noted that figuring out his location had become something of a “national pastime” in India.

He remained at-large despite Interpol’s issuance of a reed notice for his arrest in July, according to The Telegraph.

Modi is at the center of a fraud case involving Punjab National Bank, where employees are “suspected to have steered fraudulent loans” to Modi’s businesses, Reuters has reported.

Modi has apparently been involved in a new new diamond business in the UK, according to The Telegraph.

Read more at The Telegraph

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This 13-Carat Pink Diamond Just Sold for $8.7M+

The sale represents a dollar-per-carat price of $656,933.

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Gem Diamonds Ltd. announced that a 13.33 carat pink diamond recovered at the Letšeng mine in February has been sold for $8.75 million.

The sale represents a dollar-per-carat price of $656,933.

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That’s a record for a Letšeng diamond, according to a press release from Gem. The company owns both the Letšeng diamond mine in Lesotho and the Ghaghoo mine in Botswana.

The diamond sold on tender in Antwerp. Gem did not reveal the identity of the buyer.

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Yahoo Finance reports that Gem mined about 127,000 carats of diamonds last year.

That amounts to under 1 percent of the worldwide total, making the company a relatively small player compared to industry titans such as Alrosa and De Beers.

 

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Jeweler Pummels Would-Be Robber with Martial Arts — Watch the Video

The 74-year-old store owner used Israeli Krav Maga.

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A 74-year-old jeweler in Hollywood, FL, used Krav Maga, an Israeli martial arts style, to fight off a would-be robber.

Daniel Stetton, owner of DHS Oakwood Jewelers, said the man had bought a gold chain months ago, the Sun-Sentinel reports. Stetton offered to fix it, but the man wanted a replacement.

Stetton refused, and the man went behind the counter to grab a new chain himself.

Stetton confronted him, employing some of the Krav Maga he learned while serving in the Israeli Army decades ago.

The incident was captured on surveillance video.

He said he had no choice but to protect his business.

“I didn’t expect I would have to use it one day,” the Sun-Sentinel quoted him saying. “But, what are you going to do?”

Stetton’s wife joined the fray, swinging a yardstick at the culprit.

The man, looking dazed, grabbed his broken chain and left the store.

Police are looking for the suspect.

Read more at the Sun-Sentinel

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