The Untold Story of the World's Biggest Diamond Heist

The Untold Story of the World's Biggest Diamond Heist

www.wired.com

This article will appear in Wired's April issue, on March 24. Published online now because the subject of the story, Leonardo Notarbartolo, was released from prison in Belgium this week.
In February 2003, Notarbartolo was arrested for heading a ring of Italian thieves. They were accused of stealing at least $100 million worth of loose diamonds, gold, jewelry, and other spoils.
Called the "heist of the century", even now the police can't explain exactly how it was done.

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The loot was never found, but based on circumstantial evidence, Notarbartolo was sentenced to 10 years. He denied having anything to do with the crime and has refused to discuss his case. Until now.

Leonardo Notarbartolo was part of a five-man team behind the heist of the century.
The murky nature of the diamond trade makes it difficult to get clear answers. According to Denice Oliver, the adjuster who investigated the robbery for insurers, there were roughly $25 million in claims, all documented by legitimate invoices. As a result, De Bruycker calculated that at least another $75 million in goods was stolen, bringing the total value of the heist to about $100 million.

If Notarbartolo's story is true, dealers who were in on it removed their goods—both legal and illegal—from the vault before the heist and then filed claims on the legitimate gems. These dealers would have gotten the insurance payouts and kept their stock. $20 million recovered by the thieves belonged to traders not in on the scam.

Or: There was no insurance scam. The thieves actually found $100 million in the vault and Notarbartolo has spun a story to cloud the true origins of the heist.

Regardless of which theory is correct, there is agreement that the thieves got away with millions that were never recovered. Notarbartolo refused to talk about what happened to the goods; something best discussed once he is out of prison.

In the meantime, his share may very well be waiting for him, hidden somewhere in the foothills of the Italian Alps.


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Wow. So there was no definite proof that he was part of the heist?

Did he confess to the crime?

If he was part of it then the police, and some other people, are going to be watching this man to see if he will lead them to the goods.