Axe-wielding robbers in spectacular €4m jewelry heist at Paris Ritz

Two suspected thieves are still on the run according to a police source

Two suspected thieves are still on the run according to a police source

A police spokesman said that no one was injured in the robbery at about 6.30pm on Wednesday.

French television station BFM said that the robbers took jewellery worth 4.7 million euros (US$5.6 million, HK$44 million) from the hotel during the raid.

The city's police commissioner issued a statement on Twitter thanking officers for their quick reactions, which led to the arrest of three men.

French police said the stolen goods, thought to be jewels, amount to "an important sum". He said that three robbers were arrested and the other two got away.

"He had an axe in his hand".

Sky News reports that a witness also heard "gunfire" at the scene.

A police office said that there were rich pickings for the daring thieves, adding: "World-famous jewellers display their jewellery at the Ritz". The 19th century hotel, which reopened in 2016 after a four-year renovation, has housed such famous names as Ernest Hemingway and Coco Chanel.

In more recent history however, the Ritz has become known as the place where Britain's Princess Diana spent her last hours before a vehicle accident in a tunnel in the French capital while being pursued by paparazzi.

The Ritz was the last building Princess Diana and Mr al Fayed's son, Dodi, left before their auto journey that ended in tragedy under the Pont de l'Alma on 31 August 1997.

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