Stolen diamond ‘in Hong Kong’

None of the jewels have been recovered since the theft.

The suspect gem was discovered after the Yau On pawn shop in Hong
Kong
presented a “16.28 carat modified cushion cut diamond” to the
GIA valuation centre in New York, the court papers said.

However, the valuation centre had assessed the stone before the theft and had
detailed information about its grade and structure on file. The 16.68-carat
gem had been recut but it was still identifiable, the court papers said.

Graff diamonds is now suing the pawn shop to recover the jewel.

“Graff is and was the true owner of the diamond and entitled to immediate
possession of the diamond,” but the pawn shop won’t let the institute
return the gem, the lawsuit says.

The yellow diamond is being kept at the GIA’s laboratory while the outcome of
the court battle is decided. The pawn shop insists the gem belongs to them.

The value of the rare stone remains a mystery.

In 2003, another Graff location, on London’s Bond Street, was robbed of $41
million worth of gems. A man was convicted of that theft and sentenced to 15
years in prison.

In 2009, the Bond Street store became the target of a $65 million stickup that
counted as one of Britain’s biggest jewellery heists. Five men have been
convicted in that robbery and sentenced to 16 or more years in prison.

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