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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.

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TOPICS: News/Current Events
KEYWORDS: gems; gemstoneultrabling
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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
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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.)
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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)
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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)
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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.)
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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)
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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!)
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