Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Sheriff holds 180,000-carat emerald
upi ^ | Dec. 27, 2008 | staff

Posted on 12/28/2008 11:06:17 AM PST by xcamel

LOS ANGELES, Dec. 27 (UPI) -- The Los Angeles County Sheriff's Department says it is holding an emerald estimated to be worth as much as $370 million while the stone's owner is determined.

A department spokesman said the 850-pound gem will be in safekeeping until a federal judge determines who rightfully owns it.

The "Bahia Emerald" was reported stolen in September from a secured vault in South El Monte, Calif.

CNN reported the emerald has been at the center of a dispute between a California man who claimed ownership, a company with which he contracted to sell it and a potential buyer.

It is alleged the gemstone's owner tried to go around the broker, who received a $19 million offer, and sell the emerald to the same buyer for $75 million.

The Brazilian stone was located in a Las Vegas warehouse, where the person in possession claimed to be the rightful owner, Los Angeles Sheriff's Lt. Thomas Grubb said.

A federal judge ordered the Los Angeles County Sheriff's Department to hold the 180,000-carat emerald until he can sort out the legal issues, Grubb said.

Similar to:



TOPICS: News/Current Events
KEYWORDS: gems; gemstoneultrabling

1 posted on 12/28/2008 11:06:17 AM PST by xcamel
[ Post Reply | Private Reply | View Replies]

To: xcamel
850-pound gem

That is one BIG emerald!

2 posted on 12/28/2008 11:10:03 AM PST by PugetSoundSoldier (Indignation over the sting of truth is the defense of the indefensible)
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel

Might be worth more ground up and made into an acre of sandpaper.


3 posted on 12/28/2008 11:10:51 AM PST by RightWhale (We were so young two years ago and the DJIA was 12,000)
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel

http://fortressaustralia.blogspot.com/2007/09/gem-of-story.html


4 posted on 12/28/2008 11:14:13 AM PST by org.whodat (Conservatives don't vote for Bailouts for Super-Rich Bankers! Republicans do!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: PugetSoundSoldier
I had an ex that was gaga over emeralds. I'm just glad this came to public attention AFTER we parted ways.

/johnny

5 posted on 12/28/2008 11:15:11 AM PST by JRandomFreeper (God Bless us all, each, and every one.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: xcamel

OK! They had an offer of nineteen million, tried to sell it for seventy-five million but it’s worth three hundred and seventy million? I guess I’m not up on gem marketing.


6 posted on 12/28/2008 11:16:13 AM PST by FreePaul
[ Post Reply | Private Reply | To 1 | View Replies]

To: org.whodat

Thank you - pictures of that stone are very hard to come by....


7 posted on 12/28/2008 11:17:02 AM PST by xcamel (The urge to save humanity is always a false front for the urge to rule it. - H. L. Mencken)
[ Post Reply | Private Reply | To 4 | View Replies]

To: xcamel

Holy Moses!


8 posted on 12/28/2008 11:17:02 AM PST by mylife (The Roar Of The Masses Could Be Farts)
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel

180 000 carats = 79.3664144 pounds


9 posted on 12/28/2008 11:17:49 AM PST by WorkerbeeCitizen (The only time I want a Republican reaching across the aisle is to smack a liberal.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel; Larry Lucido; Cap'n Crunch; TEXASPROUD

Ice melts in evidence rooms all the time !


10 posted on 12/28/2008 11:18:50 AM PST by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
[ Post Reply | Private Reply | To 1 | View Replies]

To: PugetSoundSoldier

The bozo reporter or cop who went to a california school
can’t get it straight. Gem is about 79.37 pounds.
1 carat = .0070548 oz.


11 posted on 12/28/2008 11:18:54 AM PST by TaMoDee
[ Post Reply | Private Reply | To 2 | View Replies]

To: xcamel

Believe it or not but a millennium ago emeralds were ground up as a paint pigment.


12 posted on 12/28/2008 11:19:49 AM PST by Eye of Unk (How strangely will the Tools of a Tyrant pervert the plain Meaning of Words! SA)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TaMoDee

Yeah, the total weight of the substrate and crystals is 850 lbs.

The reporter is a moron.


13 posted on 12/28/2008 11:20:20 AM PST by xcamel (The urge to save humanity is always a false front for the urge to rule it. - H. L. Mencken)
[ Post Reply | Private Reply | To 11 | View Replies]

To: FreePaul

I bet there is a tax angle here also....I am sure sales or whatever tax that applies to gems was never paid...


14 posted on 12/28/2008 11:21:49 AM PST by BurbankKarl
[ Post Reply | Private Reply | To 6 | View Replies]

To: org.whodat
Excellent picture at your link. Comment from the link which seemed appropriate:

"I agree with the poster who found this story implausible. There are good quality roads, etc. in Bahia. As for the estimate of 180,000 carats. B***shit. It appears that much of the 850 lbs is just matrix holding the emeralds together - not uncommon. By result of their chemical composition and ultimate formation, "flawless" (as often related to daimonds) is impossible in emeralds.
Until the matrix is washed off and every single crystal examined and graded, there is no way to estimate the value. Like all commodoties, emeralds are subject to market forces of supply and demand. That is one reason that deBeers tries so hard to stop the sales of so-called synthetic diamonds (produced in the lab - are just as real as those in nature).
As soon as diamonds (or emeralds) were to become 'pedestrian', the cartels that control production would not longer be able to control pricing. Same is true of oil...anything else one wants to consider. all in all, this story is just that...a big story filled with media savvy embellishment."

15 posted on 12/28/2008 11:21:51 AM PST by MHGinTN (Believing they cannot be deceived, they cannot be convinced when they are deceived.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: FreePaul

—sounds about like media estimates of numbers of people at left-wing marches in Washington, DC—


16 posted on 12/28/2008 11:22:11 AM PST by rellimpank (--don't believe anything the MSM tells you about firearms or explosives--NRA Benefactor)
[ Post Reply | Private Reply | To 6 | View Replies]

To: JRandomFreeper
I don't know why...they are one of the group of gems you have to do something to, to make them decent. You have to inject oils into emeralds. They cloud up, ...maybe it's a green thing...$ounds like it from what you $aid, too. ;-)
17 posted on 12/28/2008 11:22:20 AM PST by NordP (CONSERVATIVE AGAIN IN 2010 ..... Now, is it 2012 yet ???)
[ Post Reply | Private Reply | To 5 | View Replies]

To: xcamel

Los Angeles County Sheriff?

OK, the owner had better show up quick or the gem will be lost for good.


18 posted on 12/28/2008 11:23:26 AM PST by Ben Reyes (Palin 2012)
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel

Wow


19 posted on 12/28/2008 11:30:41 AM PST by ScreamingFist (Annihilation - The result of underestimating your enemies. NRA)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FreePaul
OK! They had an offer of nineteen million, tried to sell it for seventy-five million but it’s worth three hundred and seventy million? I guess I’m not up on gem marketing.

Definitely something fishy. Either this story is all screwed up, and the reporter is a moron, or there's something fishy. Maybe someone stole it. Maybe someone smuggled it into the country and was trying to sell it without declaring it or paying taxes. Maybe the intermediary was a professional fence. You might settle for a quarter of the value or less if you had to work under the table.

20 posted on 12/28/2008 11:38:43 AM PST by Cicero (Marcus Tullius)
[ Post Reply | Private Reply | To 6 | View Replies]

To: xcamel

I hope they have 24/7 security that is better than a beat cop.

Maybe like a small contingent of Marines.


21 posted on 12/28/2008 11:44:03 AM PST by wastedyears (In Canada, Santa says "Ho Ho, eh?")
[ Post Reply | Private Reply | To 1 | View Replies]

To: rellimpank
—sounds about like media estimates of numbers of people at left-wing marches in Washington, DC—

You mean like the 20 to 550 million that are expected to show up there on the 20th of next month?

22 posted on 12/28/2008 11:45:32 AM PST by fella (.He that followeth after vain persons shall have poverty enough." Pv.28:19')
[ Post Reply | Private Reply | To 16 | View Replies]

To: fella

—yep—or “estimates of the projects’ cost range from $20 billion to $300 billion”—


23 posted on 12/28/2008 11:47:53 AM PST by rellimpank (--don't believe anything the MSM tells you about firearms or explosives--NRA Benefactor)
[ Post Reply | Private Reply | To 22 | View Replies]

To: JRandomFreeper

I had a girlfriend, many years ago, whose eyes were that color. Her stares could burn holes in your soul. She married my best friend, they have six kids and now she weighs close to 300lbs.


24 posted on 12/28/2008 11:48:50 AM PST by P8riot (I carry a gun because I can't carry a cop.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: xcamel; PugetSoundSoldier; RightWhale; org.whodat; JRandomFreeper; FreePaul; mylife; ...
A department spokesman said the 850-pound gem will be in safekeeping until a federal judge determines who rightfully owns it.

This is just wonderful, a federal judge to declare who the owner of this is. I'm sure he'd love to declare the state the owner of it.

25 posted on 12/28/2008 11:48:57 AM PST by wastedyears (In Canada, Santa says "Ho Ho, eh?")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cicero
----and the reporter is a moron--

--redundancy alert--

26 posted on 12/28/2008 11:49:02 AM PST by rellimpank (--don't believe anything the MSM tells you about firearms or explosives--NRA Benefactor)
[ Post Reply | Private Reply | To 20 | View Replies]

To: xcamel

Can I apply for ownership? It’s hard to find a good emerald. LOL


27 posted on 12/28/2008 11:51:23 AM PST by freekitty (Give me back my conservative vote.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: wastedyears

naw - just half of it in sales tax, plus luxury tax and windfall profit tax.

I’m sure the real owner can have what left after court costs and lawyer fees.


28 posted on 12/28/2008 11:52:00 AM PST by WorkerbeeCitizen (The only time I want a Republican reaching across the aisle is to smack a liberal.)
[ Post Reply | Private Reply | To 25 | View Replies]

To: xcamel

Thank God someone found my emerald! I’ve been looking everywhere for it!


29 posted on 12/28/2008 11:52:30 AM PST by Huskrrrr
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel

Oh gee I didn’t realize it was gone! Please send it to......!


30 posted on 12/28/2008 12:00:13 PM PST by chris_bdba
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel

31 posted on 12/28/2008 12:05:57 PM PST by concentric circles
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ben Reyes

Personal exeperince or just don’t like LEO’s in general?


32 posted on 12/28/2008 12:07:26 PM PST by tajgirvan (saltnlemons is my better half!)
[ Post Reply | Private Reply | To 18 | View Replies]

To: concentric circles

so those green things are emeralds? *goes to fill hole back in*


33 posted on 12/28/2008 12:13:21 PM PST by stefanbatory (Do you want a President or a King?)
[ Post Reply | Private Reply | To 31 | View Replies]

To: xcamel
I don't think I'd trust any of the players in this one.
34 posted on 12/28/2008 12:20:30 PM PST by the invisib1e hand (revolution is in the air.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: tajgirvan
Sorry, should be experience
35 posted on 12/28/2008 12:27:54 PM PST by tajgirvan (saltnlemons is my better half!)
[ Post Reply | Private Reply | To 32 | View Replies]

To: Brad's Gramma; glock rocks
Just Darn BG... I really wanted to get this small token of my appreciation to you on Christmas Day. In the meantime I will send a box of Crackers that has only been opened twice until I sort this out with the Nigerian authorities...
36 posted on 12/28/2008 12:58:30 PM PST by tubebender (Retirement...The art and science of Killing time before it Kills you...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: tubebender

Why THANK youuu!


37 posted on 12/28/2008 1:53:09 PM PST by Bradís Gramma ( PRAY! Pray for Israel. Pray for the US.)
[ Post Reply | Private Reply | To 36 | View Replies]

To: xcamel

That's the second largest emerald I've ever seen!
38 posted on 12/28/2008 3:12:49 PM PST by john in springfield
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel
department spokesman said the 850-pound gem will be in safekeeping until a federal judge determines who rightfully owns it.

Dibs!

39 posted on 12/28/2008 3:15:32 PM PST by Billthedrill
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel

The so-called “Bahia Emerald” was recovered last Friday in Las Vegas, according to a sheriff’s department news release.

The gem was stolen from a secured vault in South El Monte in September and later warehoused in the Nevada gambling town, said Lt. Thomas Grubb of the sheriff’s Major Crimes Bureau.

http://www.msnbc.msn.com/id/28394645/


40 posted on 12/28/2008 3:19:14 PM PST by kcvl
[ Post Reply | Private Reply | To 1 | View Replies]

To: xcamel

Investigators suspect someone used falsified papers to remove the stone from the secured vault in California, although no criminal charges have been filed, Grubb said.

While Grubb said it was his understanding the stone had been appraised at $370 million, the value is unclear.

The company hired by the owner to sell it said in court papers it had received a $19 million offer, which the company wanted to accept.

It alleged the gemstone’s owner then tried to go around the broker to sell the emerald to the same buyer for $75 million.

At one point, the emerald was listed for sale on eBay for a “buy it now” price of $75 million.

http://www.cnn.com/2008/CRIME/12/27/giant.emerald/

The investigation led sheriff’s officials to Idaho and Las Vegas. When the suspects learned that deputies were hot on their trail, they agreed to hand over the gem. On Dec. 19, sheriff’s investigators arrived in Las Vegas with a court order and took possession of the stone. No arrests were made.


41 posted on 12/28/2008 3:24:55 PM PST by kcvl
[ Post Reply | Private Reply | To 1 | View Replies]

To: FreePaul
According to the comments on the website posted:

The true value of the turd in question is $40,000.00

42 posted on 12/28/2008 3:25:39 PM PST by Hot Tabasco (Today is just a little more special than yesterday.)
[ Post Reply | Private Reply | To 6 | View Replies]

To: P8riot

I have green eyes. Also love emeralds. My husband says when I have red bloodshot eyes “it looks like Christmas.” Green eyes are good for a stare-down, I’ll vouch for that. Glad you dodged the 300 pounder!


43 posted on 12/28/2008 8:40:32 PM PST by TheConservativeParty ("A ship in harbor is safe, but that is not why the ship was built." by The First Gal of AK)
[ Post Reply | Private Reply | To 24 | View Replies]

To: freekitty

I found a great big gorgeous emerald on Ebay a few years ago in an 18kt ring setting. It’s still my favorite ring. Got a good deal on it, my jeweler said the setting alone was worth the price I paid. Emeralds are my favorite.


44 posted on 12/28/2008 8:44:54 PM PST by TheConservativeParty ("A ship in harbor is safe, but that is not why the ship was built." by The First Gal of AK)
[ Post Reply | Private Reply | To 27 | View Replies]

To: TheConservativeParty

I love them; but have never found a really good one. You were lucky; especially on ebay.


45 posted on 12/28/2008 9:23:58 PM PST by freekitty (Give me back my conservative vote.)
[ Post Reply | Private Reply | To 44 | View Replies]

To: tajgirvan

Personal experience. One night a few years ago, our van got stolen. Early the next morning, I got a call from a 7-11 liquor clerk. He said: “hey, sir, (after a few explanation as to how he got my number)...your van is parked in front of the store...but you want to hurry up and come ‘cause the sheriff department is coming down to ‘impound’ it.” I said, “tell them that the owner is on his way.”

I got there within half an hour, but the van is already gone — the sheriff’s office took it away.

I ended up paying the sheriff’s office $300 (for handling fee, I supposed) to get my van out of the impound lot.

Question is why do the Sheriffs have to do that when they already know that the owner is coming to retrieve it?

Yes, I have a very negative impression of the sheriff’s office, thank you.


46 posted on 12/28/2008 10:17:32 PM PST by Ben Reyes (Palin 2012)
[ Post Reply | Private Reply | To 32 | View Replies]

To: Ben Reyes

Thank you for the reply.


47 posted on 12/29/2008 2:49:43 AM PST by tajgirvan (saltnlemons is my better half!)
[ Post Reply | Private Reply | To 46 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson