Sydney jeweller Michel Germani will plead not guilty to allegations that he helped plan and coordinate a staged armed robbery at his Hilton Hotel store in Sydney’s CBD in January last year in an attempt to defraud an insurer.  

Lawyer Mark Carmody, who is the solicitor acting for both Mr Germani, 66, and his wife Coco, tells insuranceNEWS.com.au the Crown case against the couple "is a circumstantial one”.   

“They absolutely deny the allegations and will be defending the charges at trial,” Mr Carmody said.  “Because the case will be going to trial, I am not at liberty to say any more than that as it will be a matter for the jury at trial to determine.” 

Mr Germani, who is next due to appear in court on April 18, was arrested on May 8 and is charged with staging a robbery on January 19 2023, and lodging an insurance claim knowing it was false to dishonestly obtain a financial advantage.  

His request for bail was denied last week in the NSW Supreme Court. 

“There is an unacceptable risk that the applicant would fail to appear at proceedings for the offence, and that he would interfere with witnesses or evidence and, in all the circumstances, bail is refused,” Justice Sarah McNaughton said.   

The Crown says that just after 8am on the day after the robbery, Mr Germani sent an email to Barrenjoey Insurance Brokers, underwritten by Lloyd's of London. The broker emailed a claim form and advised that “this will be a protracted claim”.  

A week later, Mr Germani submitted a form claiming 164 items with a wholesale cost of $2.82 million and a retail price of $7.54 million were stolen.  

Court documents obtained by insuranceNEWS.com.au outline the Crown’s case, and say the police formed a strike force to investigate the circumstances surrounding the reported armed robbery.  

It was initially reported to police that Mr Germani and another staff member were robbed by two offenders who arranged for an after-hours viewing of jewellery.  

The pair were bound by cable ties and left in the store.  The staff member was not involved, police say. 

“The staff member began to scream loudly, and passers-by were alerted, and soon police were called. They located the applicant and the staff member bound within the store,” the documents say. 

The NSW police allege Mr Germani arranged for an associate, Giulia Penna of Strathfield NSW, to organise that robbery. It is alleged that Ms Penna enlisted two Sydney men to carry out the offence, and that she was also assisted by another co-accused. 

The police case relies on telephone intercept material, witness accounts, closed circuit television and call records. 

“The police allege that all those people were at Ms Penna's residence, where the applicant (Mr Germani) attended, to organise the robbery offence, and the police further allege that the meeting included the deliberate fabrication of a customer meeting in preparation for the robbery,” the court record states.  

Germani Jewellery sponsored TV show Sale of the Century for 13 years, designed sapphire and diamond earrings for Princess Diana, and jewels for the Saudi royal family and Elizabeth Taylor.  

Mr Germani began his career began with five jewellery stores for Al-Rajhi, owner of the largest Bank in Saudi Arabia. He was previously based at the Diamond Bourse in Antwerp and Switzerland before he relocated to Australia in 1985.  

He won the ‘De Beers Diamond Facets’ award in 1989, opened a Circular Quay store for the 2000 Olympics, and has his own perfume, BIJOUX.