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Man loses fight for 840-pound emerald worth $372-MILLION

emerald

Man loses fight for 840-pound emerald worth $372-MILLION

A Los Angeles judge ruled that claims of Anthony Thomas, a businessman, to the 3-foot-tall Bahia Emerald were ‘not credible.’ Two others – gem buyer Mark Downie and the business, Ferrara Morrison Holdings – are still awaiting trial on their claims of ownership.

LOS ANGELES — A judge has rejected a businessman’s bid to be declared the rightful owner of an 840-pound emerald that has been appraised at $372 million.

Judge John Kronstadt ruled Wednesday that the claims of Anthony Thomas to the Bahia Emerald were “not credible.”

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But the long fight over the huge gem isn’t over. Two more parties — gem buyer Mark Downie and business Ferrara Morrison Holdings — both claim ownership and another trial awaits.

A judge in 2011 tentatively dismissed the claim of Thomas, who said he’d bought the emerald from Brazilian miners for $60,000. But when that judge was promoted, Kronstadt declared a mistrial and reheard the case himself last year.

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The 3-foot-tall Bahia is one of the world’s largest emeralds with about 180,000 carats.
Read more: http://www.nydailynews.com/news/national/man-loses-fight-840-pound-emerald-worth-372-million-article-1.1596514#ixzz2ruxUPEWk

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