Cannes jewellery heist 'worth about $172 million'
CANNES (AFP) - A spectacular diamond heist in the French resort of Cannes has been valued at US$136 million (S$172 million), prosecutors said on Monday, making it one of the world's biggest jewellery thefts.
Authorities had initially estimated the robbery - which took place in the luxury Carlton Hotel on Sunday in broad daylight - was worth around 40 million euros.
The brazen robbery saw an armed man walked into the hotel through the main entrance undisturbed by security staff, and steal jewels that were part of an exhibition by a jewellery house owned by Lev Leviev, an Israeli billionaire businessman.
The theft is roughly as big as the world's largest ever haul of jewellery, valued at around 100 millions euros, which took place in Belgium in 2003.