A battle over a reportedly “cursed” emerald between the nation of Brazil and American gem speculators could soon be over. A U.S. judge ruled Thursday, Nov. 20, that the emerald should be returned to Brazil after a long and heated journey.
According to Brazil, the 836-pound Bahia Emerald was taken from a mine in 2001 and smuggled into the United States. The country wanted it back.
However, several American gem enthusiasts were looking to make a fortune from the Bahia Emerald — one of the largest emeralds, if not the largest, in the world. It contains 180,000 carats and is estimated to be worth as much as $1 billion.
Download the SAN app today to stay up-to-date with Unbiased. Straight Facts™.
Point phone camera here
According to The Washington Post, the emerald was in the possession of a Brazilian merchant nicknamed “the general” who had purchased it for $1,700. The merchant then sold it to two gem prospectors for $8,000.
In 2005, the prospectors shipped it to the U.S. in hopes of finding a buyer, where reports say it survived flooding from Hurricane Katrina. They found a few Americans who joined them in group ownership of the gem, an Idaho businessman, a Florida man dealing in real estate and gems, and a California plumber.
When infighting ensued between these men, the Los Angeles Sheriff’s Department was notified of its existence and seized the gem, keeping it in custody for the next 15 years.
The gem also caught the attention of U.S. Immigration and Customs Enforcement who alerted Brazilian officials. The two Brazilian speculators were tried and found guilty of smuggling. They were both sentenced to prison.
In 2015, as legal fights continued in America over the gem’s ownership, the Brazilian government asked its U.S. counterparts for help in returning the emerald.
Nine years later, a U.S. district judge ruled the emerald should go back home to its native country. Last week, Judge Reggie B. Walton sided with Brazil, despite American speculators’ beliefs that it belongs to them.
Kit Morrison, the Idaho businessman, told The Washington Post that he’ll accept the ruling.
“When you are an investor and entrepreneur, you do everything you can to protect, preserve and improve the investment and opportunity. However, you cannot control the things that are out of your control,” Morrison said.
Now barring any appeals, the “cursed” emerald will soon be on its way back to Brazil.
