SAN FRANCISCO (KCBS RADIO) – A Brink's security truck containing millions of dollars worth of jewelry and gems has been robbed near Los Angeles after leaving from San Mateo.
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The armored truck was going to an event at the Pasadena Convention Center, and was robbed near Frazier Park, about an hour and a half drive north of Los Angeles, according to KABC.
Brandy Swanson, director of the International Gem and Jewelry Show, told the AP that the valuables were loaded on the truck late on July 10 following an event in San Mateo, about a half hour drive south of San Francisco.
She added that there were around 25 to 30 bags of valuables stolen from the truck, and the owners reported over $100 million in losses. However, Dana Callahan, a spokeswoman for Brink's, said the stolen items were worth less than $10 million.
"According to the information the customers provided to us before they shipped their items, the total value of the missing items is less than $10 million," Brink's said in a statement. "We are working with law enforcement, and we will fully reimburse our customers for the value of their assets that were stolen, in accordance with the terms of our contract."
Laura Eimiller, a spokeswoman for the Federal Bureau of Investigation in Los Angeles, told the AP that an investigation is underway with local authorities, but there is no additional information at this time.
Arnold Duke, president of the International Gem and Jewelry Show, told KABC that the discrepancy in value of the items is not uncommon.
"They under-insure," Duke said. "Because the extra insurance is very, very expensive. And because everybody trusts Brink's a million percent. And they've never lost anything of ours. After all these years, people are just very, very comfortable."
Duke mentioned that some of the stolen items included gold jewelry, diamonds and high-end watches. Swanson also spoke to AP about the discrepancy in value of the items, and how many of the exhibitors have lost their savings.
"That's where the discrepancy comes in. These are mom-and-pop operators," Swanson added. "They're devastated. Some of these people have lost their entire livelihoods."
The Associated Press contributed to this story.
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