US to return 'cursed' $1 billion emerald to Brazil
What's the story
After a long legal battle, the United States will be finally returning a 752-pound (341 kg) emerald, worth nearly $1 billion, to Brazil. The Bahia Emerald, weighing around 180,000 carats, was illegally smuggled out of the South American country in 2001 by two locals. They discovered it in a beryl mine and transported it to the US using mules.
Ownership battle
Legal dispute over Bahia Emerald's ownership
The legal wrangling over the gem's ownership dates back to 2014, involving 10 individuals, corporations, and the Brazilian government. On Thursday, a US federal judge ruled in favor of a motion by the US Department of Justice to return the gem to Brazil. The emerald had earlier been found in a Las Vegas vault by Los Angeles County sheriff's investigators, who couldn't trace its rightful owner.
Repatriation ruling
Emerald's return under international legal agreement
The Bahia Emerald has been at the center of rumors that it is cursed and has ties to Brazilian mafia schemes and Bernie Madoff's banking transactions. Brazilian officials have always maintained that the emerald is a national treasure that is destined for a museum. They sought its return under an international legal agreement that allows for the exchange of evidence in criminal cases.
Court decision
Judge dismisses American speculators' arguments
US District Judge Reggie Walton ruled that the arguments presented by American gem speculators weren't strong enough to prevent the emerald's return to Brazil. "The Court has concluded that the intervenors' positions are insufficient to prohibit the return of the emerald to Brazil," Walton stated in his ruling. Federal prosecutor Boni de Moraes Soares expressed satisfaction with the decision, stating, "We're very happy with the decision."
Owner's reaction
Former owner expresses no loss over ruling
The former owner of the gem, Idaho businessman Kit Morrison, had bought it for $1.3 million but later reported it missing. After the court's ruling, he said he felt no feelings of "defeat or loss." If no appeal is filed against this decision, a formal repatriation ceremony will be held to mark the emerald's return to Brazil.