French Police have arrested 25 people in connection with an astonishing mid-day jewelry heist at Harry Winston Diamond‘s (HW-T, HWD-N) Paris salon in December 2008.
A report from the Associated Press says the suspects are mainly local residents between the ages of 22 and 67, both males and females. Some of the stolen merchandise has been recovered.
The suspects were arrested Sunday afternoon and Monday morning after France’s elite police unit was tipped off about foreigners coming to buy jewelry from the robbery.
Investigators had been watching the suspects for months, which included a security guard at the shop and several known gangsters.
During the robbery, four men, three dressed in wigs and dresses made off with US$118 million in rings, necklaces and watches at the Harry Winston salon located on a high-end shopping street off the Champs Elysees.
The robbery was France’s most lucrative in history. It was the second robbery for that Harry Winston outlet. The store was targeted by thieves in October 2007.
Harry Winston received nearly US$52 million in the insurance settlement. The company reported that US$31.7 million in company-owned and consigned retail inventory was stolen during the second robbery.
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