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Friday, October 17, 2025

Thieves escape with $20M price of merchandise after breaking into downtown Los Angeles jewellery retailer


DOWNTOWN LOS ANGELES (KABC) — A family-owned jewellery retailer says somebody stole $20 million price of merchandise from their enterprise in downtown Los Angeles.

It appeared the thieves reduce their approach via and ransacked the enterprise.

The incident occurred in a single day on the retailer situated within the 500 block of South Broadway. Officers have been known as to the scene round 10 a.m. Monday, in response to LAPD.

The store proprietor’s son, Kevin, advised Eyewitness Information that the suspects reduce via the wall from a vacant retailer subsequent door after which disabled the safety cameras and the alarm.

The homeowners estimate that $20 million price of money, gold bars and jewellery have been stolen within the heist.

“Twenty years of my father’s work is simply gone,” stated Kevin.

Kevin advised ABC7 that the shop had change into well-known in latest months because of rappers and influencers mentioning them on social media.

However with the shop cleaned and no insurance coverage, their future is unsure.

“We’re hoping that the group can help us and assist us get again on our ft,” Kevin stated.

The homeowners are providing a $100,000 money reward for any ideas and data as police examine, and they’re additionally launching a GoFundMe web page.

Investigators have been seen canvassing the world for proof.

It was not instantly clear what number of suspects have been concerned.

No additional particulars have been obtainable.

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