Thieves ransack family-owned jewelry store, escape with $20M worth of merchandise
Someone stole an estimated $10 million worth of merchandise from a family-owned jewelry store in downtown Los Angeles
By KABC News Staff
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DOWNTOWN LOS ANGELES, California (KABC) — Police say someone stole an estimated $10 million worth of merchandise from a family-owned jewelry store in downtown Los Angeles.
It appeared the thieves cut their way through and ransacked the business.
The incident happened overnight at the store located in the 500 block of South Broadway. Officers were called to the scene around 10 a.m. Monday, according to LAPD.
The shop owner’s son, Kevin, told Eyewitness News that the suspects cut through the wall from a vacant store next door and then disabled the security cameras and the alarm.
The owners claimed that $20 million worth of cash, gold bars and jewelry were stolen in the heist, but police later issued an update, saying the estimated loss was $10 million.
“Twenty years of my father’s work is just gone,” said Kevin.
Kevin told ABC7 that the store had become famous in recent months thanks to rappers and influencers mentioning them on social media.
But with the store wiped clean and no insurance, their future is uncertain.
“We’re hoping that the community can support us and help us get back on our feet,” Kevin said.
The owners are offering a $100,000 cash reward for any tips and information as police investigate, and they are also launching a GoFundMe page.
Investigators were seen canvassing the area for evidence.
It was not immediately clear how many suspects were involved.
No further details were available.
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