Latest news with #jewelers
CBS News
30-06-2025
- Business
- CBS News
Burglars cut through roof of El Monte jewelry store, steal $1.5 million in gold and diamonds, owners say
The owners of an El Monte jewelry store say that a group of burglars stole more than a million in gold and diamonds from their business overnight. Instead of selling jewelry as planned on Sunday, Rosanna Meza and her family are now sifting through the aftermath of the burglary. "It was our life ... and our dreams," Meza said. "They took everything from us." She says that the crew cut through the roof of their store, Meza's Jewelry on Main Street, using power tools to crack open their safes before taking off with more than $1.5 million in product, including diamond rings and solid gold chains. "My brother called me, I was at my house still, and he called me and when he told me ... everything went blank," Meza said. The crew also cut off the store's security alarms, taking them with them when they fled from the store. She says that it's not the first time they were targeted by burglars, referencing a 2023 smash-and-grab robbery in which store employees fought back against a suspect. This time though, she said things were different. "These were professionals," she said. "They cut the internet, the security alarm, the cameras. We don't have anything." This is the latest in a series of complex burglaries at Los Angeles County jewelry stores. Earlier in June, a crew used a blowtorch to cut through the wall of Encino Jewelry Mart, where five different jewelers work. In May, two different groups burglarized stores in Glendale and Simi Valley by cutting through the roof to gain entry. Meza said that they have filed a report with the El Monte Police Department, but they're unsure when they can reopen as they work to repair the damage and count their losses.
Yahoo
17-06-2025
- Yahoo
'Largest jewelry heist in U.S. history': Thieves in big Brink's job indicted
It was a jewelry heist days in the making — one allegedly planned by thieves who had worked their way up to a major score after honing their covert craft in the parking lots and truck stops of San Bernardino County. When they broke into a Brink's big rig at a remote Grapevine truck stop in the dead of night three years ago, the men may have gotten more than they bargained for: a haul that could be worth up to $100 million. That would make the theft of 24 bags containing jewelry, gems, watches and other precious items on July 11, 2022, among the biggest heists of all time. All of this according to an indictment unsealed Tuesday by federal prosecutors in Los Angeles against seven co-conspirators who allegedly carried out the theft at the Flying J Travel Center in Lebec, Calif. The men were each charged with two counts of conspiracy to commit theft from interstate and foreign shipment and theft from interstate and foreign shipment. Some face additional charges. In all, 14 jewelers whose merchandise Brink's was transporting to Pasadena were victimized that day. Several suffered grave financial losses, and some left the trade altogether. The merchants, many of whom are based in L.A., have been locked in a yearslong legal battle with Brink's over the value of their pilfered goods. Some of the stolen jewelry was recovered after search warrants were executed Tuesday. Two of the defendants arrested are expected to appear in federal court on Tuesday. Another is an inmate at an Arizona prison, according to a press release from the U.S. attorney's office in Los Angeles, which described the crime as "the largest jewelry heist in U.S. history." Ranging in age from 31 to 60, the men are all L.A.-area residents, hailing from neighborhoods including Boyle Heights, Westlake and Rampart Village. The co-conspirators, some of whom use aliases, are Carlos Victor Mestanza Cercado, Jazael Padilla Resto, Pablo Raul Lugo Larroig, Victor Hugo Valencia Solorzano, Jorge Enrique Alban, Jeson Nelon Presilla Flores and Eduardo Macias Ibarra. Some of the defendants have also been charged with smaller heists throughout San Bernardino County. If convicted, Mestanza, Padilla, Lugo, Valencia and Alban would face up to 20 years in federal prison for each robbery charge. All the defendants would face up to five years for the theft conspiracy charge and 10 years for each theft charge. Their planning of the Brink's heist allegedly began at the International Gem and Jewelry Show in San Mateo, where, starting on July 8, 2022, jewelers displayed their baubles in booths under the glare of fluorescent light. Prosecutors allege that Padilla spent days casing out the show. On July 10, Mestanza, Lugo and Alban allegedly scouted the Brink's semitruck, which was loaded with 73 bags containing the jewelers' wares, according to the indictment. When the big rig departed the San Mateo County Event Center that night, it touched off a complex choreography that culminated at an Interstate 5 truck stop about 70 miles north of Los Angeles. This account is drawn from the indictment and previous reporting by The Times, which has extensively covered the crime, widely known as the Brink's heist. Read more: Body-camera footage shows aftermath of multimillion-dollar Brink's big rig heist The semitruck's departure from the event center around 8:25 p.m. triggered a series of phone calls among some of the defendants, the indictment said. Through the night, several of them allegedly followed the southbound Brink's truck, which was piloted by one driver while another dozed in the vehicle's sleeping compartment. It traveled on the I-5 for about 300 miles, pausing at a rest area in Buttonwillow before pulling into the Lebec truck stop at 2:05 a.m. on July 11. When driver Tandy Motley left the semitruck to get a meal inside the Flying J, the thieves made their move. They'd have 27 minutes to pull off the heist. It was a little after 2 a.m. when the thieves allegedly breached the big rig's trailer, bypassing its defenses without alerting the sleeping guard. Then, they stole 24 bags of jewelry. Afterward, according to the indictment, the men headed for East Hollywood. The defendants may not have grasped how large their score was. In the days after the heist, several of the co-conspirators deactivated their mobile phone numbers, according to the indictment. The court filing does not say how the defendants gained access to the trailer; it also does not note the presence of any weapons, such as guns or knives. But previous reporting by The Times detailed the aftermath of the episode. At 2:32 a.m., Motley, the Brink's driver who was dining at the Flying J, returned to his vehicle and noticed its rear lock had been cut away. A little before 4 a.m., two L.A. County sheriff's deputies responded to a 'vehicle burglary call for service' at the truck stop, whose parking lot was filled with 18-wheelers. 'I'm pretty sure we were followed from the show where we got loaded,' Motley told the deputies, according to their body-camera footage, which The Times obtained in 2023. Within days of the theft, the scale of the crime came into view. It quickly drew comparisons to infamous heists from across the decades, among them 1983's Brink's-Mat gold bullion job near Heathrow Airport, 2003's Antwerp diamond theft and 2015's Hatton Garden burglary, in which thieves tunneled into a vault in London's jewelry district. "There are days that you forget about this whole thing because we moved on — kind of, sort of," Jean Malki, one of the victims, told The Times a few weeks before the indictment was unsealed. "But there are other days wishing you could do this and that, but there's nothing you can do, because you lost everything." The heist has captivated L.A.'s jewelry industry, whose epicenter is St. Vincent Court, a bricked alley in downtown where jewelers congregate to trade gossip between sips of espresso. Malki said that, whenever he visits, he is besieged by colleagues with questions. "Every single time, I get somebody asking me, 'So, Jean, whatever happened with your jewelry?'" said Malki. "And the answer always was, 'We don't know anything.'" The affected jewelers occupy a humble corner of the field, selling at trade shows across the country. It's a lifestyle that breeds camaraderie among the merchants, whose businesses are also, in many cases, enmeshed. They often obtain merchandise from each other without paying for it up front, which allows the jewelers to take on expensive items without shelling out for them until they have sold. That complicated things for some of the victims, because they didn't actually own certain items they lost in the heist. One of the jewelers, Kenny Lee, previously told The Times that the cost of his stolen goods was at least $12 million. Attorney Jerry Kroll, who represents the victimized jewelry companies, called the situation "a tragedy on multiple levels." "Some of my clients left the jewelry trade. Others are trying to find a way to hang in,' said Kroll, who spoke with The Times in May. Many of his clients are elderly. 'None of them are doing well. … For my clients, waiting is challenging.' Malki, co-owner of Forty-Seventh & Fifth Inc., previously said his company lost as much as 650 pieces of jewelry and other items in the heist. He continues to sell at shows and said business is slow. But Malki said he is buoyed by "loyal customers — thank God for that." The fallout from the heist has been ugly. Within weeks of the crime, Richmond, Va.-based Brink's sued the affected merchants, who then filed their own complaint against the company. Central to the legal wrangling is a dispute over the dollar value of the thieves' haul. The Brink's lawsuit, filed in New York in August 2022, has sought to limit any payout to the jewelers to $8.7 million — a figure that, according to the company, reflects the value declared by the merchants on shipping manifests. But, two weeks later, the jewelers sued Brink's and other parties in L.A. Superior Court, alleging the stolen items could be worth more than 10 times that amount. The case filed by Brink's in federal court in New York is further along. The company has asked the court to declare that its responsibilities to the jewelers are governed by their contracts. The lawsuit includes language from a Brink's contract that indicates the company will pay clients for items lost during shipping — in this case up to their total declared value of $8.7 million. The company alleged in the suit that the figure was drawn from manifests signed by its jeweler customers ahead of the tractor-trailer's departure from San Mateo. The jewelers 'substantially under-declared the value of their shipments' when they consented to having their wares transported by the company to the L.A. area for a trade show in Pasadena, according to the suit. (Some jewelers have said it is common practice to assign lower values than fair-market costs to reduce shipping fees.) 'Brink's believes that each Defendant seeks to recover more from Brink's than is permitted under the Contract,' said the company in its complaint, which also asked the court to consider finding that it is not liable for the losses of defendants who did not accurately describe the value of their items. The jewelers' L.A. lawsuit, meanwhile, alleged breach of contract and negligence, among other claims. It alleged that agreements signed by the jewelers contained contract text rendered in "microscopic print" that was too small to read and thus 'cannot be binding.' It also alleged that the 18-wheeler drivers' conduct was 'grossly negligent," and it claimed that 'lax security' by Brink's allowed 'jewelry and gemstones to be stolen right out from under the noses' of the workers. Read more: Who pulled off the massive Brink's heist? And where are the jewels? It's still a mystery In the months leading up to the Brink's heist, several of the co-conspirators allegedly pulled off a series of thefts in San Bernardino County, the indictment said. In some cases, the crimes relied on tactics similar to those later used at the Flying J truck stop. Yet the Southern California scores were a modest prelude to the job in Lebec. The men would allegedly travel to truck stops and other locations, including some far away, "to identify and rob, steal, unlawfully take, and unlawfully carry away' a variety of merchandise. According to the indictment, the defendants used multiple vehicles to follow trucks carrying shipments of electronics and other items until they reached stopping points. Then, the indictment said, the alleged thieves would rob or burgle the vehicles. Some of the defendants would allegedly act as lookouts around businesses that truck drivers were patronizing, and others would break into the "seemingly unattended" vehicles and pilfer their contents — "including by force and threat of force in the victims' presence." The men charged in the indictment would then return to L.A. County with the merchandise to divide up and fence for profit. On March 2, 2022 — a little more than four months before the Brink's episode — prosecutors alleged that Mestanza, Lugo, Valencia and others used multiple vehicles, including Padilla's, to follow a truck carrying Samsung electronics from Ontario. When the vehicle stopped at a store in Ontario, Mestanza, Lugo, Valencia and others allegedly distracted the driver inside the shop while some in the group stole the electronics, which were later valued at about $241,000. Less than two weeks later, Lugo, Mestanza, Padilla, Valencia, Alban and others allegedly used similar tactics to follow and rob a box truck carrying Apple AirTags. When the driver stopped for food in Fontana, some of the men are alleged to have stolen merchandise later valued at roughly $57,000. When the driver caught the thieves, according to the indictment, one who wielded a small knife allegedly yelled, 'Don't move, or I will f— you up!' Sometimes, the alleged thieves weren't successful. On May 25, 2022, Mestanza, Padilla, Lugo, Valencia, Alban and others allegedly drove to a truck stop in Fontana to steal from a vehicle there. The men used a crowbar to break in, the indictment said, but fled before making off with anything. Still, that same day, Mestanza, Padilla, Lugo, Valencia, Alban and others found another target in Fontana, allegedly stealing Samsung electronics valued at a little more than $14,000. They took the merchandise from a parked semitruck — the same sort of vehicle they allegedly broke into in Lebec six weeks later. Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week. This story originally appeared in Los Angeles Times.
Associated Press
25-05-2025
- Business
- Associated Press
How to Finance an Engagement Ring
NEW YORK, NY / ACCESS Newswire / May 24, 2025 / Getting engaged is one of the most exciting moments for couples ready to take the next step in their relationship. But the cost of an engagement ring can sometimes cause financial anxiety that takes away from the joy. The good news is engagement ring financing may alleviate the worry of how you'll pay for a ring and provide you with a predictable repayment schedule that won't burden your relationship. This article explores some of the best ways to finance your engagement ring so you can focus on the more important task at hand, popping the question. In-Store Financing Jewelers may partner with lenders or credit card companies to offer in-store financing for engagement rings. These programs typically let you spread the cost over a period of six to 24 months with little to no interest. As a result, you may be able to afford your preferred ring without worrying about paying a lot in interest. That said, it's crucial to pay the full balance by the end of the financing period. Failure to do so could mean the lender will add back all the interest you didn't pay during the original term. Personal Loan Personal loans are widely available at various banks, credit unions, and online lenders. It's a lump sum you borrow and repay in fixed monthly installments plus interest. The predictable payment schedule of personal loans makes it easy to plan ahead and fit the loan payment into your monthly budget. You can also shop around and compare quotes to find favorable interest rates and loan terms that fit your needs. Credit Card Credit cards typically have high APRs for purchases, so if you use a card to pay for a ring, you'll need to have a plan to pay off the balance quickly. However, many cards offer benefits that could help reduce the cost of an engagement ring when used strategically. Benefits may include: Imagine the engagement ring you want to buy is $2,000. You open a new credit card with the following terms: Buying the ring with the credit card would qualify you for $20 cashback rewards and the $150 signup bonus. That means you have $1,830 left to pay. You can then spread the balance over 12 months, allowing you to pay for the ring in full with no interest for just $152.50 monthly. Buy Now, Pay Later Program Buy Now, Pay Later (BNPL) programs are third-party services that let you buy your ring today and pay for it over time. The BNPL service pays for the ring in full. You then pay the BNPL service, usually with a low interest rate or a small fee attached. These services could offer additional convenience since you may not have to search for a loan or credit card. Instead, if the jeweler works with these programs, you may be able to sign up while paying for the ring. Fund Your Forever, Without the Wait Saving up cash for an engagement ring may take a long time. Fortunately, you have plenty of financing options to fill the gap between your savings and the ring's cost. Jewelers may offer convenient in-store financing or partner with Buy Now, Pay Later providers. However, you may also explore personal loan options or use new credit cards strategically to finance the ring as well. Remember to explore all your options and shop around when looking for personal loans and credit cards to find the best potential offers. That way, you can figure out financing that works for you and free up your time to prepare for the big moment. SPONSORED CONTENT Contact Information: Name: Sonakshi Murze Email: [email protected] Job Title: Manager SOURCE: OneMain Financial press release
Yahoo
24-05-2025
- Business
- Yahoo
How to Finance an Engagement Ring
NEW YORK, NY / / May 24, 2025 / Getting engaged is one of the most exciting moments for couples ready to take the next step in their relationship. But the cost of an engagement ring can sometimes cause financial anxiety that takes away from the joy. The good news is engagement ring financing may alleviate the worry of how you'll pay for a ring and provide you with a predictable repayment schedule that won't burden your relationship. This article explores some of the best ways to finance your engagement ring so you can focus on the more important task at hand, popping the question. In-Store Financing Jewelers may partner with lenders or credit card companies to offer in-store financing for engagement rings. These programs typically let you spread the cost over a period of six to 24 months with little to no interest. As a result, you may be able to afford your preferred ring without worrying about paying a lot in interest. That said, it's crucial to pay the full balance by the end of the financing period. Failure to do so could mean the lender will add back all the interest you didn't pay during the original term. Personal Loan Personal loans are widely available at various banks, credit unions, and online lenders. It's a lump sum you borrow and repay in fixed monthly installments plus interest. The predictable payment schedule of personal loans makes it easy to plan ahead and fit the loan payment into your monthly budget. You can also shop around and compare quotes to find favorable interest rates and loan terms that fit your needs. Credit Card Credit cards typically have high APRs for purchases, so if you use a card to pay for a ring, you'll need to have a plan to pay off the balance quickly. However, many cards offer benefits that could help reduce the cost of an engagement ring when used strategically. Benefits may include: Cashback rewards: You could accumulate cashback rewards credit card when you purchase the engagement ring. Many credit card issuers will allow you to redeem your cash back rewards as a statement credit, which would help you lower some of the balance you owe. Signup bonuses: The card may pay a lump sum or statement credit if you spend a predetermined amount within a specified timeframe after opening the account. For example, you might receive $300 for spending $1,000 during a limited timeframe. 0% APR: Some cards offer a promotional period, often 12 to 21 months, with 0% (annual percentage rate) APR on purchases.[1] As a result, you could save money on interest by paying off the balance within the promotional period. Just keep in mind that you'll start to accrue interest on any remaining balance once the promo period is over. Imagine the engagement ring you want to buy is $2,000. You open a new credit card with the following terms: 1% cash back on all purchases $150 signup bonus for spending $2,000 in the first three months 0% APR for 12 months Buying the ring with the credit card would qualify you for $20 cashback rewards and the $150 signup bonus. That means you have $1,830 left to pay. You can then spread the balance over 12 months, allowing you to pay for the ring in full with no interest for just $152.50 monthly. Buy Now, Pay Later Program Buy Now, Pay Later (BNPL) programs are third-party services that let you buy your ring today and pay for it over time. The BNPL service pays for the ring in full. You then pay the BNPL service, usually with a low interest rate or a small fee attached. These services could offer additional convenience since you may not have to search for a loan or credit card. Instead, if the jeweler works with these programs, you may be able to sign up while paying for the ring. Fund Your Forever, Without the Wait Saving up cash for an engagement ring may take a long time. Fortunately, you have plenty of financing options to fill the gap between your savings and the ring's cost. Jewelers may offer convenient in-store financing or partner with Buy Now, Pay Later providers. However, you may also explore personal loan options or use new credit cards strategically to finance the ring as well. Remember to explore all your options and shop around when looking for personal loans and credit cards to find the best potential offers. That way, you can figure out financing that works for you and free up your time to prepare for the big moment. SPONSORED CONTENTContact Information: Name: Sonakshi MurzeEmail: Title: Manager SOURCE: OneMain Financial View the original press release on ACCESS Newswire Sign in to access your portfolio
Bloomberg
20-05-2025
- Business
- Bloomberg
China Imports the Most Platinum in a Year as Squeeze Tightens
Chinese jewelers and investors imported the most platinum in a year last month, as the precious metal's relative stability enhanced its attractiveness over surging and volatile gold. Imports of platinum into China — the world's biggest consumer — totaled 11.5 tons in April, according to data released Tuesday. Global demand for the metal, which is also used in catalytic converters and laboratory equipment, is expected to outstrip supply for the rest of this decade, according to Bloomberg Intelligence analysts.
