Gems and jewellery worth up to $100m stolen in heist on armoured van in California

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Gems and jewellery worth up to $100m stolen in heist on armoured van in California
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The vehicle had been transporting the precious cargo between jewellery shows when it was robbed, authorities say.

Brandy Swanson, director of security company Brink's, which owned the van, said between 25 and 30 bags were taken, containing an unknown number of individual pieces.

Estimates in the value of the loot vary wildly, with 18 victims reporting more than $100m in losses, while a Brink spokesperson said the items valued less than $10m . In a statement, Brink's said:"According to the information the customers provided to us before they shipped their items, the total value of the missing items is less than 10 million dollars."We are working with law enforcement and we will fully reimburse our customers for the value of their assets that were stolen, in accordance with the terms of our contract."

Ms Swanson said vendors who travel between jewellery shows typically under-insure their merchandise because they cannot afford to insure it fully.

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