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$100 Million Worth of Jewelry Stolen from California Armored Vehicle

A $100 million worth of jewelry was stolen from a California armored vehicle. Officials said thieves stole millions of dollars worth of jewels from the truck last week.

The rare gems were estimated to be worth $100 million, said Brandy Swanson, a director at the International Gem and Jewelry Show in San Mateo, south of San Francisco.

The stones were loaded into a Brinks security truck following the show on July 10, Dana Callahan, a spokeswoman for Brink’s security, confirmed. The truck was robbed on its way to Los Angeles.

According to Swanson, 25 to 30 bags were stolen from the truck leaving 18 victims reporting significant losses from the heist.

The estimated figure was disputed by Callahan.

“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,” Brink’s said in a statement. “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.”

“Mom and pop operators” usually underinsure their goods because they cannot afford to fully insure their merchandise due to the associated cost and fees, Swanson said.

“That’s where the discrepancy comes in. These are mom-and-pop operators,” Swanson said. “They’re devastated. Some of these people have lost their entire livelihoods.”

An FBI spokeswoman in Los Angeles, Laura Eimiller said the theft occurred in the desert city of Lancaster as the vehicle was traveling from San Mateo to an event at the Pasadena Convention Center.

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