The suspects were identified as Darrell "Blue" Williams, David "Dawoo" Story, Rufus "Alonzo Nowell" Lawson, Willie Hawkins Smith and Jackie Howard, The (Wilmington, Del.) News Journal reported.
Prosecutors indicted the suspects in December and released the indictment Thursday after the last man was in custody.
Authorities said they believe the five men are responsible for a heist at Stuart Kingston Jewelers in Wilmington. The thieves made off with $4.4 million worth of gold, diamonds, other precious gems and a $2 million ruby sculpture.
Three of the suspects allegedly entered the store in the afternoon on Nov. 1, 2011, wearing masks and brandishing firearms. They allegedly tied up four employees, then smashed glass cases and took the jewels.
It was unclear which of the suspects took part in the actual robbery and what roles the other two played.
None of the jewels have been recovered, authorities said.
The robbery was featured on "America's Most Wanted" in February 2012 and store owner Jim Stein offered a $10,000 reward for information leading to the arrest and conviction of the men.