The "Bahia Emerald," reportedly the second largest gemstone of its type ever, was located in a Las Vegas warehouse. But that is only half the story.
The Bahia Emerald was reported stolen in September from a secured vault in South El Monte, Calif. However, there is a dispute over ownership, between a California man who claimed ownership, a company with which he contracted to sell it and a potential buyer.
According to CNN, the Bahia Emerald's "owner" attempted to bypass the the broker, who had received a $19 million offer, and sell the emerald to the same buyer for $75 million.
Because of the dispute, a judge has ordered the Los Angeles County Sheriff's Department to hold the Bahia Emerald until clear ownership is determined. The emerald is estimated to be worth as much as $370 million.
Lt. Thomas Grubb of the Major Crimes Bureau told the LA Times:
"The way it was stolen was through falsification of paperwork. "hey flimflammed some papers and were able to get it released from the vault."
It is unclear when an ownership hearing will be held.
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