As the watch world prepares for this year’s Baselworld fair, opening March 8 in Basel, Switzerland, the local prosecutor’s office believes it has identified one of the perpetrators of last year’s $10 million diamond theft.

According to police, on March 30, 2011, two men broke into an Israel trader’s display and stole four gems worth $10 million while three other gang members distracted company employees. The theft, which topped an $825,000 theft at the show in 2007, shocked attendees and temporarily forced the closure of one of its exhibit halls.

Investigators believe that the robbery was conducted by a “Eastern European group” which specializes in stealing diamonds and jewelry, according to the prosecutor’s website. It adds that the theft was “meticulously planned” and “involved at least eight individuals.”

It says police are looking for a 54-year-old Croatian man, who was not named. The statement said police are still determining the identity of his accomplices.

Anyone with information about the theft should call 41-61-267-7111.

JCK