A Royersford, Pa., man admitted to a scam in which he received $79,600 from Allstate Insurance for jewelry he reported as stolen, but was actually used as collateral for loans.

Sean M. Shurelds, 43, pleaded guilty to one count of mail fraud and is due back in federal court for sentencing April 23, when he could receive a sentence of between 18 and 24 months in jail, according to the Philadelphia Daily News

On Sept. 11, 2005, Shurelds and his wife reported a robbery and carjacking to New York City police, alleging two black males held them at gunpoint and stole several items, including their 2006 Mercedes Benz, eight pieces of jewelry and a cell phone, according to the report.

Shurelds mailed six appraisals of the stolen jewelry to Allstate a week later and on Dec. 12, 2005, Allstate settled the claim by sending a check for $79,600 to Shurelds.

In 2007, investigators recovered seven of the items from Philadelphia, Pa.-based P. Jewelers, and learned that a year earlier, Shurelds had left the items there as collateral for loans he received there.

Six of the items recovered matched descriptions, pictures and serial numbers of six items Shurelds reported stolen in the 2005 robbery and in the claim to Allstate.