Cannes Cartier Store Heist: Estimated Value of Stolen Goods Raised to $20 Million

AP Images

New details emerge about the Tuesday robbery carried out by four people.

New details emerged Thursday about the jewelry heist that took place on Tuesday morning at the Cartier store on Cannes' Croisette, just a week before the start of the annual film festival.

According to Agence France Presse, the value of the stolen goods — which include jewelry and watches — is now estimated to be $20 million (€17.5 million), which would make it one of the most lucrative robberies in France in the past decade. The original damage estimate was for at least $1.13 million (€1 million).

The robbery took place at 11 a.m. Cannes time in a busy thoroughfare in the heart of the Croisette, directly across the street from the luxurious Carlton Hotel. According to sources, an armed robber wearing the mask of an elderly person managed to infiltrate the store's securitized entryway, allowing two accomplices to join him. A fourth suspect was waiting in a nearby getaway car.

After stuffing the jewels and watches in a briefcase, the thieves ran outside, dropping some of their take in the process. They then sped away in a Mercedes, which was later found incinerated in a residential suburb of Cannes. Police say that the vehicle was originally reported stolen in March in the nearby district of Valbonne.

Members of the Nice police department are currently reviewing CCTV footage to find any clues that could help them identify the suspects, all four of whom are still at large.

With less than a week to go before the Cannes Film Festival officially kicks off, the heist has dealt a considerable blow to the city's security, which is already expected to be on high alert following the Paris terrorist attacks in January.

comments powered by Disqus