According to officials, several million dollars worth of gems and jewelry was stolen from an armored vehicle in Southern California last week.
The value of the stolen items is estimated to be more than $100 million, according to Brandy Swanson, a director at the International Gem and Jewelry Show in San Mateo, south of San Francisco.
A Brink’s security spokesperson Dana Callahan stated that the items were stolen while being transported to Los Angeles in one of their vehicles after a concert on July 10.
Approximately 25 to 30 bags were stolen from the truck, and 18 victims reported significant losses.
Callahan, though, contested the estimated amount.
“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,” Brink’s said in a statement. “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.”
According to Swanson, “mom-and-pop” jewelers frequently underinsure their items because they cannot afford the expenses and premiums connected with ultimately protecting them.
“That’s where the discrepancy comes in. These are mom-and-pop operators,” Swanson said. “They’re devastated. Some of these people have lost their entire livelihoods.”