Millions of dollars worth of gems and jewelry are gone after a Brink’s truck was reportedly robbed in Southern California the morning of July 11.
The robbery took place as the Brink’s truck was traveling to a jewelry show near Los Angeles, according to Dana Callahan, a spokeswoman for the security company. The jewels were loaded onto the truck the night of July 10 after an exhibit hosted by the International Gem and Jewelry Show, the group’s director Brandy Swanson said, according to ABC News.
While the number of individual pieces is unknown, Swanson estimated between 25 and 30 bags were stolen, with 18 victims reporting over $100 million in losses. Callahan said the stolen jewels were worth less than $10 million, ABC News reported. (RELATED: Suspects Target Newport Beach Jewelry Store Amid Surge In ‘Smash-And-Grab’ Robberies)
“According to the information the customers provided to us before they shipped their items, the total value of the missing items is less than $10 million,” a statement released by Brink’s said. “We are working with law enforcement, and we will fully reimburse our customers for the value of their assets that were stolen, in accordance with the terms of our contract,” the company added, according to ABC News.
The reason behind the enormous difference between the estimated value of the jewels is likely due to underinsurance, Swanson said, according to WBRZ 2. Swanson added that vendors tend to underinsure their merchandise because of how expensive insurance can be.
“It’s their whole life,” Brandy Swanson, manager of the International Gem and Jewelry Show, said of some of the jewelers whose merchandise was stolen. “Some of these people are completely done at this point.” https://t.co/WbfO9E2Ni1
— CBS Los Angeles (@CBSLA) July 16, 2022
“That’s where the discrepancy comes in. These are mom-and-pop operators,” Swanson continued. “They’re devastated. Some of these people have lost their entire livelihoods.”
Authorities have not released any information about possible suspects, but the FBI in Lancaster is investigating the robbery, according to ABC7.
Jewelry thefts are less common than they used to be, according to the National Jeweler, who reported a downward trend in jewelry crime over the last 25 years.