Five People Lay Claim To 840-Pound Emerald From Bahia, Brazil

In a story that reads like an old-timey caper, the Los Angeles Sheriff’s Department is trying to get a hold of whoever owns an 840-pound, $400 million Brazilian emerald that had been reported stolen. At least five people have come forward claiming they own the giant gem. Which is so weird because we happened to lose a gargantuan emerald last weekend…

The emerald is currently under lock and key until authorities can determine its real owner. It had been reported missing by Larry Biegler, a gem broker and real-estate investor who had been keeping it in a warehouse. Investigators determined it had been in the possession of two businessmen named Todd Armstrong and Kit Morrison, who were trying to sell the emerald. Armstrong and Morrison maintain that the emerald rightfully belongs to them, since Biegler had failed to hand over diamonds he’d promised to deliver and put up the emerald as collateral. 

The emerald has formerly been in the hands of Ken Conetto, who shipped the emerald to New Orleans, thinking he had a buyer lined up there. Once stored in a New Orleans warehouse, the emerald became submerged in a flood thanks to hurricane Katrina. It was Conetto who approached Biegler to help him sell the gem. Biegler says he took the stone as collateral after Conetto failed to pay him for his services. Conetto denies this and says the emerald is still his.

Now, a fifth man - California gem trader Anthony Thomas - says he purchased it for $60,000 from a group of (nefarious!) Brazilians in 2001, and the stone rightfully belongs to him. And he’s gonna put on a trench coat, collar upturned, and lean against a lamp post on a foggy night until he gets it!

It’s a charming little trinket to have, especially during a recession. Todd Armstrong says he plans on writing a book about the stone, which might also bring in a nice chunk of change. Rock & Rolling: The Story of a Gem, a Broad, and a Man Looking For Answers. 

Five People Claim Ownership of 840-Pound, $400M Emerald [FOX]