Officers responded to the robbery call around 9 p.m. Monday on Ventura Boulevard, according to the Los Angeles Police Department.
Ali Sedaghat, who owns a jewelry store in downtown Los Angeles, says it all started when he stopped to have dinner at a Mexican restaurant in the area. Once he got back in his car, he says he only made it about 100 feet before realizing he had a flat tire.
He pulled over and that's when two men wearing dark clothes and ski masks pulled up and robbed him of $200,000 worth of jewelry that was in a bag in his car. He says one of the men was armed with a knife as they approached him.
"They put the knife on me and they got my bag and they took all of my stuff and all of my jewelry," he said.
Sedaghat believes the suspects targeted him and intentionally slashed his tires.
Video from the scene shows police investigating a car with what looked like damage to the front left tire.
Police said the suspects were in an older model black minivan and were believed to be armed with a pocketknife. They remain outstanding as police continue their investigation.