(IDEX Online) - A well-known jeweler in Sydney, Australia, has been charged with orchestrating a raid on his own store as part of an insurance fraud worth AUD$2.8m (US$1.9m).Michel Germani, 65, CEO and founder of Germani Jewellery, and a 47-year-old female staff member were allegedly threatened with a knife by two robbers who forced them to open the safe, and bound their hands and feet with cable ties.The woman was "absolutely traumatized" by the incident, said Sydney City policeThe raiders struck at a store located in the city's Hilton Hotel in January 2023.Germani was arrested on Monday and faces a string of charges including robbery, fraud and deception. Two other men have also been arrested."I can indicate there is sufficient evidence that would implicate the store owner in orchestrating that robbery," Det Supt Joe Doueihi told reporters on Tuesday.Pic courtesy NSW Police shows a raid related to the investigation