Five Carat Diamond in Florida Sparks Legal Battle - Oct.2008

A 5-carat diamond once lost at a local museum has led to a court battle, reports say.

A Boca Raton woman bought the stone for $180,000 from the Bulgari store in Geneva, Switzerland in 2003, and wore it to the Norton Museum in West Palm Beach. When she got home she realized the stone was not in its setting. She reported it missing to West Palm Beach police and to the Gemological Institute of America.

Shortly afterward, a French jeweler brought what is thought to be the same stone to Provident Jewelry & Loan In October 2007, Provident sold the stone to Diamante, a diamond manufacturer, for $146,000. When Diamante sent the diamond to GIA to be graded and analyzed it was determined that it was the same stone reported missing. The woman sued in court and got the stone back.

Now Diamante is suing Provident, alleging breach of contract and negligent misrepresentation. v