UPDATE: A jewellery store owner, Michel Germani, remains behind bars after being denied bail for a second time as he awaits a retrial for allegedly staging a multi-million dollar robbery. The NSW District Court made the ruling on Monday, confirming Germani will remain in custody until his retrial in 2026.
The incident dates back to January 2023 when Germani’s store, Germani Jewellers, located in the Sydney Hilton Hotel, was allegedly robbed by two men who restrained Germani and his employee, Lana Al-Khoury. However, authorities claim the robbery was a fabricated scheme designed to recover funds prior to the store’s impending closure due to an outstanding $184,000 rental debt.
Germani filed an insurance claim for $2.8 million, alleging that 164 jewellery items were stolen during the staged heist. However, the claim was denied, prompting investigations into the incident. While Germani has admitted to committing insurance fraud, he vehemently denies charges of aggravated robbery and unlawful detention related to Al-Khoury.
The court’s decision comes after Judge Miiko Kumar evaluated Germani’s request for bail. Judge Kumar stated that no new circumstances justified granting bail, particularly given Germani’s previous rejections in the Supreme Court. “If I did find I had jurisdiction to hear this bail application or release application, then I would refuse,” Judge Kumar emphasized.
The majority of the allegedly stolen jewellery remains unaccounted for, with 84 items still missing. Despite arguments from Germani’s lawyer, Matthew Kalyk, that his client required bail to support his family and business, the judge ruled against it, citing concerns about the risk of flight and potential interference with evidence.
Crown prosecutor Cate Dodds argued against bail, highlighting the significant risk posed by Germani’s connections to overseas jurisdictions with no extradition agreements, raising fears he could flee as investigations continue.
As the case develops, Germani, who has been in custody for nearly two years, faces a long wait until the retrial. His legal team insists that the alleged insurance fraud was a “stupid act,” framed as a one-time mistake rather than a pattern of criminal behavior. Judge Kumar’s remarks underline the court’s stance on the seriousness of the allegations against him.
With the next court date set for 2026, the community and stakeholders in the jewellery industry are closely monitoring this unfolding case, which raises significant concerns about integrity and trust in business practices. Stay tuned for further updates as this story develops.
