A high-profile Sydney jeweler has been charged with masterminding the armed robbery of his jewelry store in what NSW police describe as an elaborate attempt to defraud his insurance company of more than $2.8m, and has arrested Michelle Elias Germani, whose company, Germani Jewelers, has designed for the likes of the princess. Diana.

According to what was posted on the site theguardian Police say the 65-year-old initially told officers he had been threatened by two men posing as customers at his shop in Sydney’s Queen Victoria Building in January..

According to the police, one of the two men was said to have threatened the employee with a knife, while the other demanded access to the jewelry safe, and said that the two thieves handcuffed Germani and the employee and then fled the store with a large and expensive amount of jewelry. 57, for the alleged theft.

Police arrested Germani after they suspected that the theft was just a fraud. Germani was charged with theft and publishing false or misleading information. He did not apply for bail and was ordered to appear again in court for bail review.