Estimate of French Diamond Heist Raised to $136 Million

×
Estimate of French diamond heist raised to $136 million
Lionel Cironneau/APA policeman is seen at the Carlton hotel, in Cannes, southern France, the scene of a daylight raid, Sunday, July 28, 2013.
PARIS - A state prosecutor says the organizer of a diamond exhibit and sale has more than doubled the estimated value of diamond jewelry stolen in a brazen weekend heist at a luxury hotel on the French Riviera - to some $136 million.

Police had previously said Sunday's theft at the Carlton Intercontinental Hotel had netted €40 million ($53 million) in loot - even at that level, one of biggest jewelry heists in recent years.

Assistant prosecutor Philippe Vique said the Dubai-based organizer 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 onto Cannes' famed Croisette. The suspect then fled on foot.

Increase your money and finance knowledge from home

Intro to different retirement accounts

What does it mean to have a 401(k)? IRA?

View Course »

Getting out of debt

Everyone hates debt. Get out of it.

View Course »