Brandy Swanson, director of the International Gem and Jewelry Show in San Mateo, south of San Francisco, said the stolen rare items are estimated to be worth more than $100 million. Dana Callahan, Brink’s security spokeswoman, confirmed that the merchandise was loaded onto one of their trucks after the July 10 show and was stolen en route to Los Angeles. Swanson said 25 to 30 bags were stolen from the truck and 18 victims reported significant losses after the robbery. Callahan, however, disputed the estimated number. “According to the information customers gave 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 cooperating with law enforcement and will fully reimburse our customers for the value of their stolen property in accordance with the terms of our contract.” The FBI is investigating the robbery.Getty Images Swanson said “mom and pop operators” typically under-insure their jewelry because they can’t afford the costs and fees associated with fully insuring it. “That’s where the discrepancy comes in. These are mom and pop operators,” Swanson said. “They are devastated. Some of these people have lost their entire livelihoods.” Laura Eimiller, a spokeswoman for the FBI in Los Angeles, said the robbery happened in the deserted town of Lancaster as the truck was headed from San Mateo to an event at the Pasadena Convention Center.
