A jury has failed to reach a verdict on two remaining charges against a celebrity jeweller who admitted attempting insurance fraud by staging an armed robbery at his shop.

In January 2023, Michel Germani submitted a form to Barrenjoey Insurance Brokers claiming the theft from his Hilton hotel store in Sydney of 164 items with a wholesale cost of $2.82 million and a retail price of $7.54 million.

The claim was rejected, and on May 12 this year he admitted faking the robbery with the help of others.  

The trial in the NSW District Court hinged on whether his employee, Lana Al-Khoury, knew of the plan and consented to being bound with cable ties. 

Germani argues she was part of the ruse. He has denied charges of taking/detaining a person without consent and aggravated robbery and use of corporal violence, after pleading guilty to charges of dishonestly obtaining financial advantage by deception and intending to pervert the course of justice.

The jurors were discharged after more than 22 hours of deliberation and a new trial was this morning scheduled for March 16. A bail application has been filed on behalf of Germani, who is in custody. 

The flamboyant jeweller began his career with five stores for Al Rajhi, owner of the largest bank in Saudi Arabia. He moved to Australia in 1985 and opened a Circular Quay store for the 2000 Olympics.  

Germani Jewellery designed pieces for Princess Diana, the Saudi royal family and Elizabeth Taylor, and sponsored TV show Sale of the Century for 13 years.