Michael Germani, a 67-year-old jeweller, is currently facing trial for allegedly orchestrating a staged $2.8 million jewellery heist at his Sydney store, a claim that raises eyebrows given his $2 million in stock and substantial debts. Germani reportedly owed over $184,000 in unpaid rent to the Hilton Hotel in Sydney at the time of the incident in January 2023.
Appearing before Sydney’s Downing Centre District Court alongside two co-defendants, Mounir Helou, 59, and Andrea David Cusumano, Germani’s involvement in a purported insurance fraud scheme has come to light through testimony from a former acquaintance. This witness recounted Germani’s approach in which he asked for assistance in planning the heist, highlighting his distress over financial troubles related to his rental situation.
The witness detailed a conversation in which Germani seemed apprehensive and sought advice on communicating safely, opting to use WhatsApp. During their discussions, Germani allegedly revealed that he intended to recover some financial losses and was willing to pay between $20,000 and $25,000 to anyone who would help him execute the plan. He further shared images of a diamond necklace as part of the compensation.
According to the testimony, the plan required the accomplice to disable Germani and a staff member, while also confiscating CCTV footage from the store. After agreeing to assist, the witness shared his bank details with Germani, but he later reported the plot to the NSW Police, believing it necessary to intervene.
Subsequently, police officers visited Germani’s store on January 13, alerting him to a potential “insurance job”. Despite the warning, Germani showed no signs of concern, according to Detective Senior Constable Ivan Scarfo. However, just a few days later, Germani communicated that he was hesitant about going through with the robbery. Nevertheless, he proceeded with the plan.
On January 19, Helou and another associate, Shanel Tofaeono, entered the store under the pretext of wanting to examine a $150,000 tennis necklace. What followed was an 11-minute ordeal wherein Germani and his employee Lana Al-Khoury were physically restrained using cable ties.
The trial is set to continue on Monday, as the jury hears further details surrounding the elaborate scheme and the motivations behind it.