Cannes Jewel Heist Losses Valued at As Much as $136 Million

Valuable diamonds were stolen from an exhibition at the Carlton Intercontinental hotel.
1:53 | 07/29/13

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Transcript for Cannes Jewel Heist Losses Valued at As Much as $136 Million
What looks like the heist of the century. 1 $36 million in diamonds, watches, jewels gone in 60 seconds. It happened in broad daylight in one of the world's most glamorous hotels r investigators are trying to figure out who did it and whether it was an inside job. Reporter: They're calling it france's biggest and most brazen robbery. 136 million worth of rings, earrings, and pendants swiped in just a few minutes. It happened here. At the luxurious carlton inter continental hotel in cannes, where movie stars stay in between struts on the red carpet. The julie ji heist happened here and the armed robber went through the doors. Corralled three unarmed security guards at gun point and escaped. Spilling some along the way. Investigators think the robber may have had an accomplice or perhaps a member of the pink panther gang, known for brazen thefts around the word. Remember the escape from prison in the last two months. This man was a professional jewelry thief for years, did 12 years in prison for it and is now an author. My feeling is that it was an inside job. Once these rocks are broken up and sold on the black market, they become difficult to trace, making diamonds a thief's best friend. I would be surprised if they have the diamonds in their possession for more than 24 hours. They may already be gone. Still ahead an "world news."

This transcript has been automatically generated and may not be 100% accurate.

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