Diamonds stolen by a jewel thief following a raid on a luxury French Riviera hotel are worth more than twice as much as originally thought, police reveal.
A French state prosecutor said the organiser of a diamond exhibition and sale has increased the estimated value of diamond jewellery stolen in an audacious weekend heist at Cannes Carlton Intercontinental Hotel to some £88m.
Police had previously said the thief had escaped with some £34m in loot – even at that level, one of biggest jewellery heists in recent years.
But assistant prosecutor Philippe Vique said the Dubai-based organiser of the diamond show has raised the value based on a more complete inventory.
Vique said authorities are looking for a lone suspect who broke in through French doors at the hotel that opens out on to Cannes’ Croisette. The suspect then fled on foot.
One expert noted the crime follows recent jail escapes by members of the notorious “Pink Panther” jewel thief gang.
The hotel was hosting a temporary jewellery exhibit over the summer from the prestigious Leviev diamond house, which is owned by Israeli billionaire Lev Leviev.
A police spokesman said the theft took place around noon on Sunday, but he could not confirm local media reports that the robber was a single gunman who stuffed a suitcase with the gems before making a swift exit.
The Carlton hotel featured prominently in Alfred Hitchcock’s “To Catch a Thief,” which starred Cary Grant as a reformed burglar chasing a jewel thief.
Jonathan Sazonoff, US editor for the Museum Security Network website and an authority on high-value crime, said the likelihood of recovering the stolen diamonds and jewels is slim, because the thieves can easily sell them.
“The fear is, if you’re dealing with high-quality minerals, it’s hard to get them back. They can be broken up and so they can be easily smuggled and sold.”
Sazonoff also said police would be likely to probe whether Sunday’s heist is linked to recent jail escapes by alleged members of the Pink Panther jewel thief gang.
On Thursday, gang member Milan Poparic escaped his Swiss prison after accomplices rammed a gate and overpowered guards with bursts from their AK-47s, police said.
He is the third member of the Pink Panthers to escape from a Swiss prison in as many months, according to Vaud police.