A 60-year-old thief has allegedly stolen more than £4 million worth of diamonds from London jeweller Boodles.

Lulu Lakatos is said to have posed as a gemologist visiting the Mayfair store on behalf of Russian investors, switching the diamonds with pebbles, the Metro reported.

Seven diamonds worth £4.2 million were placed in a locked purse while Boodles awaited payment.

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Lakatos, however, is alleged to have swapped the purse for an identical one containing worthless stones.

“The diamonds had been stolen by the defendant by sleight of hand,” the Metro quoted prosecutor, Philip Stott, as saying.

He continued: “The conspiracy in which she is alleged to have played an integral and central part was one of the highest possible sophistication, planning, risk and reward.”

The accused is said to have completed the diamond by heist by changing her clothes with the help of a female accomplice and fleeing to France on the Eurostar.

While she is denying involvement in the diamond heist, two male co-conspirators have pled guilty to involvement.

The court case is ongoing.