The jury in the high-profile trial of Michel Germani, the jeweller once favoured by Princess Diana, has been discharged after failing to reach a unanimous verdict on charges relating to a staged robbery designed to trigger a multimillion-dollar insurance payout.
Mr Germani, 67, who operated a luxury jewellery store inside Sydney’s Hilton Hotel, will now face a retrial following the jury’s declaration that further deliberation would not break the deadlock. The trial had lasted two months and involved two co-accused: Mounir Helou and Andrea David Cusumano, both aged 59.
Germani began his career in jewellery design in the 1980s and rose to prominence through his namesake brand, Germani Jewellers, which developed a reputation for bespoke pieces, high-carat gemstones, and personalised service.
Operating primarily from the Hilton Hotel in Sydney’s CBD, Germani’s boutique became a well-known stop for luxury shoppers. He also maintained a nearby store and, at times, pursued other business ventures including wholesale distribution. The Germani brand was marketed as a purveyor of rare stones and refined design.
The charges stem from an incident on January 10, 2023, when two men entered Germani Jewellers posing as customers shortly after 6.30pm. According to the prosecution, the men—allegedly including Helou—tied up Germani and his employee, Lana Al-Khoury, with cable ties and staged what appeared to be a violent armed robbery.
Germani and Helou have both pleaded guilty to fabricating the incident and submitting a false insurance claim, but have denied the more serious charges involving physical violence and unlawful detention of Ms Al-Khoury. Germani has also admitted to providing false statements to police but continues to reject claims that he intentionally caused harm to his employee during the ruse.
Michel Germani dazzled stars like Princess Di with his prized million dollar jewellery pieces, but has the high roller sold his last accessory?
— A Current Affair (@ACurrentAffair9) May 10, 2023
TONIGHT on A Current Affair, the frightening armed robbery that the jewellery giant allegedly schemed himself. #9ACA pic.twitter.com/XRA2cgqLrT
Mr Cusumano, who was accused of playing a lesser role in the operation, was found guilty by the jury of attempting to dishonestly gain a financial advantage. His involvement was said to centre around the activation of a mobile phone used in orchestrating the plan. He remains on bail ahead of his sentencing scheduled for September 19.
The court previously heard that Germani’s financial position was strained at the time of the incident, with more than $184,000 in unpaid rent owed to the Hilton Hotel. Prosecutors alleged the robbery was conceived as a last-ditch effort to recover funds before the store was shut down.
Ms Al-Khoury, who had not been scheduled to work that evening, was reportedly called in by Germani shortly before the staged robbery. Prosecutor Cate Dodds told the court that Germani needed “a real victim” to lend credibility to the act and mislead police and insurers.
The aftermath of the event was witnessed by hotel security and police officers, who found Germani and Al-Khoury visibly distressed and bound on the shop floor. Despite later revelations that the event had been fabricated, Al-Khoury has consistently denied being part of the plan and has maintained that she was traumatised by the incident. The defence argued otherwise, but the prosecution urged the jury to believe her version of events, describing her account as sincere and credible.
The bogus insurance claim was lodged with Avalon based Barrenjoey Insurance Brokers the following morning, with a formal form submitted a week later. Germani claimed that 164 items had been stolen, representing a wholesale value of $2.82 million and a retail valuation exceeding $7.5 million. The policy was underwritten by Lloyd’s of London. The claim was never paid.
With the jury discharged and a new trial date pending, Mr Germani remains in custody. Mr Helou, who has admitted his role in the faked robbery, may face a custody application at a forthcoming hearing on July 28.
