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Featured Fraud: A Real Gem

A California jewelry store owner pled guilty to felony charges following an investigation into a robbery at his store.

By Marguerite Swallow | Updated on February 11, 2011

A California jewelry store owner took a trip halfway around the world, but couldn’t avoid getting caught for insurance fraud.

Lior Bitton, 37, is the owner of Pacific Diamonds and Gems jewelry store in Los Angeles. On Jan. 7, 2010, the store was robbed, and 20 diamonds were stolen. Bitton filed a claim for the stolen gems, which included a 4.21 carat diamond that he had certified with the Gemological Institute of America (GIA) in September of 2009. The insurance company paid him $99,000 for the stolen jewels.

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