It ’s 180,000 carats and weighs 840 pounds . Its time value is estimatedsomewhere in the $ 370 million range , but really , the Bahia Emerald is so rarified it ’s virtually priceless . No curiosity the raw gem , which wasfound in 2001 , is such a hot property — and has been at the heart and soul of a legal saga that ’s endure years .
fit in to a decision handed down today in Los Angeles , the effectual battle over the monolithic emerald with astrange history(it evensurvived Hurricane Katrina)will continuebetween the Americans struggle over it , despite lately - expressed interest from Brazil , the stone ’s country of origin .
ReportsCBS News :
The emerald was first discover in Brazil ’s Bahia mine in 2001 . It was reportedly ship from São Paulo to northern California , then buy , sold and allegedly stolen several times in several locations . Then in 2008 , a man named Larry Biegler reported it steal from his California warehouse . Police discover the emerald in Las Vegas in the self-possession of Kit Morrison , who suppose he bought it from Biegler .
Morrison said he pay seven figures for the emerald and has proof .
“ We have a leverage and sale agreement we have a lot of documentation , ” he say .
But the stone ’s story is n’t that watch glass unmortgaged .
“ It belongs to Brazil and we are endure to crusade for it , ” Brazilian governance instance Marconi Melo enjoin .
The authorities claim in court documents that the emerald was “ illegally mine , illegally enchant , lawlessly export to the United States . ”
When asked if they would even manage if the emerald were n’t worth so much money , Melo said , “ We manage that no muffin or Harlan Fisk Stone or mineral of Brazil could be taken out of the area without the correct authorization . ”
The Bahia Emerald ’s possession has been under debatesince at least 2008 , thanks to a tussle between the then - proprietor , the third - company troupe he ’d hired to deal it , and the potential buyer . At the time , CNN reportedthat “ someone used falsified papers to get rid of the stone from the secured vault in California ” where it was stack away , and spirited it to Las Vegas , where it was eventually discovered .
The ship’s company employ by the proprietor to betray it say in court papers it had received a $ 19 million offer , which the party wanted to accept .
It aver the gem ’s owner then tried to go around the agent to sell the emerald to the same buyer for $ 75 million .
( Best part of this chapter in the drama : “ At one point , the emerald was listed for cut-rate sale on eBay for a ‘ purchase it now ’ price of $ 75 million . ” Unsurprisingly , nobody parachute on that . )
As theSydney Morning Heraldreports , the Brazilian government — which believes , Indiana Jones - style , that the emerald belongs in a museum — entered the debate last fall , though the judge in the type make up one’s mind the ongoing case would proceed apace;another possession claimwas dismissed in January .
The Brazilian government last year asked a judge to sack the event instantaneously or put it on grip while Brazilian officials go along negotiations with the US government to plug the stone ’s return … Judge Michael Johnson made exonerated Monday that he was not reign on the merits of Brazil ’s claim to ownership , but instead solely on the motility to dismiss or break current court proceedings in Los Angeles .
Brazil ’s motion lacked sufficient evidence to warrant halting the case , Johnson said . There was no official declaration from Brazilian officials , nor was there any indicant that diplomatical efforts would prove fruitful or timely .
AP Photo / Los Angeles County Sheriff ’s Department , File
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