A California jewelry store owner took a trip halfway around the world, but couldn't avoid getting caught for insurance fraud.
Lior Bitton, 37, is the owner of Pacific Diamonds and Gems jewelry store in Los Angeles. On Jan. 7, 2010, the store was robbed, and 20 diamonds were stolen. Bitton filed a claim for the stolen gems, which included a 4.21 carat diamond that he had certified with the Gemological Institute of America (GIA) in September of 2009. The insurance company paid him $99,000 for the stolen jewels.
While the diamonds might have been brilliant, Britton was not. Just a few months after claiming it stolen, Britton took the 4.21 carat diamond with him to Israel to meet with a diamond wholesaler. The wholesaler submitted the diamond to the GIA for certification, where it was quickly established that the stone's unique qualities were an exact match to the one that had been registered in 2009, and reported stolen just a few months ago.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
