A co-defendant and pivotal witness in the alleged orchestrated $2.8 million robbery of an upscale jewelry boutique has declined to testify, the court revealed. This occurred as the Sydney entrepreneur accused of orchestrating the fraudulent heist at his own store was once again refused bail.
Michel Germani, owner of Germani Jewellery, faces a slew of charges following what law enforcement contends was a premeditated robbery at his boutique situated within the Hilton Hotel in Sydney’s CBD early last year.
During proceedings at the NSW Supreme Court on Tuesday, the Crown asserted that Mr. Germani, facing financial hardship in early 2023, found motivation for the purported crime. Prosecutors allege he colluded with co-defendant Giulia Penna, charged with multiple offenses including aggravated robbery, to recruit two individuals to stage the fake robbery.
Police responded to Mr. Germani’s establishment on January 19 last year to discover him and another employee bound with cable ties. Surveillance footage purportedly depicts the entry of the two alleged perpetrators under the guise of viewing jewelry before coercing staff to empty safes into a bag.
Subsequently, Mr. Germani filed an insurance claim for 164 items valued at $2.8 million wholesale and $7.5 million retail.
The Crown contends that the robbery was a fabrication aimed at defrauding the insurer. Mr. Germani faces charges including aggravated robbery, deprivation of liberty, attempted deception for financial gain, dissemination of false material to obtain property, and participation in criminal activity.
He has remained in custody since his arrest in May last year. His lawyer, Matthew Kalyk, petitioned for bail at Tuesday’s Supreme Court hearing.
Mr. Kalyk informed the court that Ms. Penna had initially agreed to testify against Mr. Germani but has since withdrawn her cooperation, leaving a significant gap in the prosecution’s case.
The defense highlighted the credibility issues surrounding Joseph Esber, who allegedly alerted the police about Mr. Germani’s plans for the robbery. Mr. Esber, with a history of over 100 convictions including fraud, casts doubt on the strength of the Crown’s case, argued Mr. Kalyk.
Despite the defense’s assertions and offers of financial surety, Justice Stephen Rothman rejected Mr. Germani’s bail application, citing potential trial delays and the seriousness of the charges.
