The stolen jewelry were part of the exhibition led by Israeli billionaire Lev Leviev.

There was an armed man with his head covered, who managed to sneak into the jewelry exhibition at the Carlton Hotel during the weekend. He eluded security and got away with a briefcase. The police said amongst the stolen were a variation of "all kinds of different, such as rings, earrings, and pendants incrusted with diamonds."

The earlier perceived value of the heist was just under $60 million. The updated figures rose after an inventory was accounted by the exhibition. The incident, according to the victim's lawyer, "happened very quickly and without any violence."

The entire exhibition group was upset over the lax security at the hotel. This heist eclipsed an incident in France back in 2008, where the stolen were valued to be up to $122 million. The incident can be compared to a heist in Belgium back in 2003, where the stolen jewelry were valued to have reached almost $145 million.

Carlton Hotel is popular with film stars. It is the preferred home of A-List attendees of the Cannes Film Festival. Ironically, the hotel was once the venue of a thriller "To Catch a Thief," by Alfred Hitchcock.

This was not the first incident the hotel got attacked by a jewelry thief. Back in 1994, a security guard was shot which crippled the watchers in the hotel, making it more prone to the incident.

The hotel's wing was the venue of Lev Leviev's exhibition. It was nearest to one entry that is accessible to the nearby street. The police claimed they were not told the exhibition was ongoing.

Robberies have become rampant recently. A robbery also took place in Cannes last May during the film fest. Several apartments were ran down by thieves, who took jewelley, personal items, and cash.