Latest news with #diamondtheft
Al Bawaba
13 hours ago
- Al Bawaba
Dubai police retrieve $25 million pink diamond from thieves
DUBAI, 18th August, 2025 (WAM) -- In an operation named 'Pink Diamond', Dubai Police successfully thwarted the theft of an exceptionally rare pink diamond worth $25 million and foiled the criminals' attempt to smuggle it out of the country. Dubai Police revealed that Operation Pink Diamond led to the arrest of the gang, who had been plotting for over a year to steal the rare diamond, which is certified by a leading gemological institute and has a unique purity rating, with only a 0.01 percent chance of finding another like it. The criminals' scheme involved identifying the diamond's owner (a jeweller) and deceiving him into believing that a wealthy buyer was interested in purchasing it. To establish credibility, the suspects posed as wealthy individuals by renting luxury cars and arranging meetings at upscale hotels, eventually persuading the merchant to move the diamond out of his secure shop, enabling them to steal it. Leveraging advanced technologies, Dubai Police CID teams identified the three suspects, all of Asian nationality, tracked their locations, and arrested them—ensuring the diamond was safely recovered before it could be smuggled out of the country in a small refrigerator bound for an Asian destination. The pink diamond is classified as Fancy Intense and weighs 21.25 carats. It boasts exceptional clarity, symmetry, and polish, with an Excellent rating. Its extraordinary value and rarity made it a prime target, prompting the gang's elaborate efforts over an extended period. Dubai Police revealed that the merchant had imported the diamond from a European country to sell in Dubai. The gang had closely monitored its arrival and devised a sophisticated plan to steal it, posing as wealthy intermediaries representing a potential buyer. The gang scheduled multiple meetings with the merchant, rented high-end cars, and met him at luxurious hotels to convince him of their credibility. They even hired a renowned diamond expert to authenticate the gem, further persuading the merchant of their seriousness. Eventually, the gang lured the merchant to a villa under the pretext of introducing him to the 'buyer'. Once the diamond was brought out, they nabbed it and fled. As soon as the merchant reported the theft, a specialised task force was formed to identify and locate the three suspects, who had initially lived together but separated after the heist and moved to different locations. Dubai Police teams raided these locations simultaneously, apprehended the suspects, and recovered the diamond before it could leave the country. The pink diamond's owner described Dubai Police's swift response as 'astonishing,' saying their speed and professionalism gave him immediate confidence the case would be resolved. After calling 999, he said multiple patrols arrived within minutes, began the investigation, and offered constant reassurance. 'To my surprise, the very next morning, they called to say the suspects had been arrested and the diamond recovered,' he said. Operating in Dubai since 2005, the trader admitted being caught off guard by the scheme and urged others in the industry to follow official safety guidelines set by the emirate. He added, 'Dubai has become a safe global centre for diamond trade. It's important we uphold the standards that make that possible.'
Emirates 24/7
17 hours ago
- Emirates 24/7
Dubai Police foil $25 million pink diamond heist in eight hours
In an operation named 'Pink Diamond', Dubai Police successfully thwarted the theft of an exceptionally rare pink diamond worth $25 million and foiled the criminals' attempt to smuggle it out of the country. Dubai Police revealed that Operation Pink Diamond led to the arrest of the gang, who had been plotting for over a year to steal the rare diamond, which is certified by a leading gemological institute and has a unique purity rating, with only a 0.01% chance of finding another like it. The criminals' scheme involved identifying the diamond's owner (a jeweller) and deceiving him into believing that a wealthy buyer was interested in purchasing it. To establish credibility, the suspects posed as wealthy individuals by renting luxury cars and arranging meetings at upscale hotels, eventually persuading the merchant to move the diamond out of his secure shop, enabling them to steal it. Foiled plan Leveraging advanced technologies, Dubai Police CID teams identified the three suspects, all of Asian nationality, tracked their locations, and arrested them—ensuring the diamond was safely recovered before it could be smuggled out of the country in a small refrigerator bound for an Asian destination. Rare gem The pink diamond is classified as Fancy Intense and weighs 21.25 carats. It boasts exceptional clarity, symmetry, and polish, with an Excellent rating. Its extraordinary value and rarity made it a prime target, prompting the gang's elaborate efforts over an extended period. How the plot unfolded Dubai Police revealed that the merchant had imported the diamond from a European country to sell in Dubai. The gang had closely monitored its arrival and devised a sophisticated plan to steal it, posing as wealthy intermediaries representing a potential buyer. The gang scheduled multiple meetings with the merchant, rented high-end cars, and met him at luxurious hotels to convince him of their credibility. They even hired a renowned diamond expert to authenticate the gem, further persuading the merchant of their seriousness. Eventually, the gang lured the merchant to a villa under the pretext of introducing him to the 'buyer'. Once the diamond was brought out, they nabbed it and fled. Swift police action As soon as the merchant reported the theft, a specialised task force was formed to identify and locate the three suspects, who had initially lived together but separated after the heist and moved to different locations. Dubai Police teams raided these locations simultaneously, apprehended the suspects, and recovered the diamond before it could leave the country. The pink diamond's owner described Dubai Police's swift response as 'astonishing,' saying their speed and professionalism gave him immediate confidence the case would be resolved. After calling 999, he said multiple patrols arrived within minutes, began the investigation, and offered constant reassurance. 'To my surprise, the very next morning, they called to say the suspects had been arrested and the diamond recovered,' he said. Operating in Dubai since 2005, the trader admitted being caught off guard by the scheme and urged others in the industry to follow official safety guidelines set by the emirate. He added: 'Dubai has become a safe global centre for diamond trade. It's important we uphold the standards that make that possible.'
South China Morning Post
23-06-2025
- South China Morning Post
Jewel thief stole US$260,000 in diamonds from New York's Tiffany, Cartier shops
A man wanted by Interpol pleaded guilty on Monday to stealing US$260,000 in diamonds from Tiffany & Co and Cartier last year through a series of 'sleight-of-hand' tricks. Advertisement Yaorong Wan, 50, admitted switching a diamond ring worth US$225,000 for a fake one and then walking out of Tiffany's flagship store on Fifth Avenue in New York in March 2024. About a week later, he pocketed a US$24,000 ring at the Cartier shop in Hudson Yards, according to the Manhattan District Attorney's office. Wan, who was previously wanted for a US$330,000 diamond theft in South Korea and was the subject of an Interpol arrest warrant, faces as much nine years in prison when he is sentenced next month. As of last year he was also a prime suspect in thefts at jewellery stores in New Jersey, California and Florida, the District Attorney's office said. 'New York is a global fashion capital and we will continue to work with our law enforcement partners to keep 'mom-and-pop shops' and high-end retailers alike safe,' District Attorney Alvin Bragg said in a statement. Prosecutors said Wan went into the Tiffany shop last year and asked about several pieces of jewellery – including the stolen ring. He switched the real platinum-mounted ring for a cubic zirconia replica and left the shop without buying anything, Bragg said. Advertisement At the Cartier shop in Hudson Yards, Wan looked at two engagement rings and two watches, but was able to slip one ring into his pocket while the sales person was distracted.
Bloomberg
23-06-2025
- Bloomberg
Tiffany, Cartier Lost Diamond Rings to ‘Sleight-of-Hand' Con Man
A man wanted by Interpol pleaded guilty Monday to stealing $260,000 in diamonds from Tiffany & Co. and Cartier last year through a series of 'sleight-of-hand' tricks. Yaorong Wan, 50, admitted switching a diamond ring worth $225,000 for a fake one and then walking out of Tiffany's flagship store on Fifth Avenue in New York in March 2024. About a week later, he pocketed a $24,000 ring at the Cartier store in Hudson Yards, according to the Manhattan District Attorney's office.
