Estimate of French diamond heist raised to $136M

July 30, 2013 00:03

Wearing a scarf to mask his face, the gunman held up at least three security guards and then fled the luxury Cannes hotel roughly a minute later with $136 million in diamond jewelry, more than twice the initial estimated worth of the loot.

The simple, speedy theft is the biggest jewelry heist in years. Police had previously said Sunday's theft at theCarlton Intercontinental Hotel had netted 40 million ($53 million) worth of treasure '" even at that level a major haul.

Reached by The Associated Press, Philippe Vique, an assistant prosecutor in the Riviera town of Grasse, said the Dubai-based organizer of the diamond show had since raised the value based on a more complete inventory.

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