Former Victorian Liberal Party treasurer Andrew Abercrombie was robbed

MELBOURNE’S wealthiest man was the victim of a million-dollar heist, with thieves getting away with diamond-encrusted watches and jewellery.

Melbourne’s wealthiest man Andrew Abercrombie has been robbed twice.

A FORMER Victorian Liberal Party treasurer has reportedly had more than $1 million worth of jewels stolen from his Toorak mansion in Melbourne’s south east.

Three thieves broke into millionaire tycoon Andrew Abercrombie’s home last month and took diamond-encrusted rings and watches, Fairfax Media reported.

An item stolen during a burglary at a Toorak home believed to be owned by multi-millionaire businessman Andrew Abercrombie. Picture: Victoria Police/AAP

The stolen goods included watches with diamond-encrusted bands, several rings and a distinctive aquamarine bangle.

Mr Abercrombie and his wife were overseas at the time but an elderly woman was at the St Georges Road home, Fairfax Media said.

The former entertainment lawyer turned businessman paid $11.5 million for the heritage-listed riverfront mansion, Edzell, in 2013.

Rings stolen from a Toorak home. Picture: AAP/Victoria Police

The home, built in the late 1800s for the then-mayor of Melbourne, once hosted private shows by Dame Nellie Melba.

Mr Abercrombie resigned as treasurer of the Victorian Liberal Party in April amid the fallout after former state director Damien Mantach stole $1.5 million from party coffers.

Mr Abercrombie was a lawyer to stars including rock group INXS before building up leasing and vendor finance business FlexiGroup.

An expensive watch was stolen from a Toorak home, believed to be owned by Andrew Abercrombie. Picture: AAP/Victoria Police

FlexiGroup is now an ASX-listed company valued at $740 million, while Mr Abercrombie’s estimated wealth is just shy of that at around $600 million.

Police have released images of the stolen jewels and a blue Holden believed to be linked to the thieves.