NORTH HOLLYWOOD, Calif. (KTLA) -- An investigation is under way after an international jeweler was beaten and robbed of $2 million worth of diamonds in North Hollywood.

The jewelry salesman, said to be visiting from Israel, was at a friend's house in the 12900 block of Hatteras Street Thursday night and was apparently carrying $2 million worth of uninsured diamonds in a bag.

As the jeweler drove away around 10 p.m., he was rear-ended and then boxed-in by two other vehicles on the corner of Bellaire Avenue and Burbank Boulevard, according to North Hollywood Police Department detectives.

Five-to-six masked suspects then smashed the man's passenger window, grabbed the bag of diamonds and drove off.

The victim, who suffered minor injuries, gave chase but ended up losing track of the suspects. One of the vehicles was later found crashed and abandoned. The diamonds and the suspects were gone.

Police say the jeweler did not have a body guard or insurance, making the incident appear suspicious.

The suspects were described only as men wearing dark clothing and masks. Investigators planned to examine the suspects' vehicle for fingerprints and other evidence.

It's believed they knew what the victim was carrying and where he would be at the time of the attack.