ROBBERY FAIL! 2 JEWELERS HIRE GUNMEN TO DRESS UP AS JEWS & ROB THEIR OWN STORE!

This jewelry heist was as phony as the robbers' beards.

Two Diamond District jewelers were busted for hiring gunmen to dress as Hasidic Jews, don fake beards and fake a store robbery so the owners could collect insurance money, cops said Tuesday.

Atul Shah, 48, and Mahaveer Kankariya, 43, were charged with directing the heist of their W. 46 St. store - ripping off a scene from Guy Ritchie's film "Snatch" in the process.

Just like in the 2001 flick, the two gunmen were in Orthodox black coats and hats when they burst into Dialite Imports in broad daylight on New Year's Eve 2008, police said.

Shah and Kankariya, both of New Jersey, had an insurance policy with Lloyd's of London and claimed the robbers took them for $4 million in diamonds, emeralds, sapphires and jewelry, police said.

The costumed robbers flashed fake IDs to a security guard in the building's lobby, then waltzed past several surveillance cameras before "holding up" Shah and another employee at gunpoint, police said.

The fake robbers, still at large, even tied up Shah and the employee with duct tape to make things look more legit before they supposedly cleaned out the safe. The well-rehearsed scam went down in less than five minutes.

But detectives uncovered evidence that Shah and Kankariya had "removed the jewelry from the location before the robbery," a police source said.

Shah and Kankariya were hit with charges of grand larceny, insurance fraud and falsifying business records, police said.

They were awaiting arraignment in Manhattan Criminal Court Tuesday night.