After a 24-year legal battle spanning continents, the ‘cursed’ Bahia Emerald – a 397-kilogram pound gem believed to be the world’s largest – is finally set to be returned to Brazil. U.S. District Judge Reggie B. Walton ruled Thursday that the emerald, worth an estimated $1 billion, should be returned to its homeland, rejecting claims from American investors who have long argued for its ownership. Were.
“We are very pleased with the decision,” Brazilian federal prosecutor Bonnie de Moraes Soares told The Washington Post. “We are closer than ever to bringing the Bahia Emerald back to Brazilians.”
The story of the emerald dates back to 2001, when it was illegally mined from Brazil and smuggled into the US. Its journey since has been marred by allegations of fraud, criminal convictions and ownership disputes, with the gem eventually ending up in the custody of the Los Angeles Sheriff’s Department, where it has remained for more than 15 years.
Considered ‘cursed’ due to its troubled history, the Emerald survived a panther attack on its transport and flooding from Hurricane Katrina. The battle for ownership lasted for more than a decade, with the Brazilian government and several parties fighting for control. Rumors also linked Panna to criminal activities, including ties to the Brazilian mafia and a suspicious $197 million deal with Bernie Madoff.
Brazil has long claimed the emerald as a national treasure, saying it was removed illegally and demanding its return under a Brazilian court confiscation order. The US government, acting under the Mutual Legal Assistance Treaty, supported Brazil’s efforts, leading to Judge Walton’s ruling.
“The Court concludes that the interveners’ position is insufficient to bar the return of the Emerald to Brazil,” the judge wrote, referring to claims by American gem speculators. “The Court should therefore enforce the Brazilian confiscation decision of the Bahia Emerald.”
Among those protesting the decision was Kit Morrison, an Idaho businessman who had invested $1.3 million in the sale of the emerald. Although he accepted the decision, Mr Morrison held no bitterness. “I have no feeling of defeat or defeat,” he said. “When you are an investor and entrepreneur, you make every effort to protect, preserve and improve the investment and opportunity. However, you “Can’t control things that are out of your control.”
Brazil is now ready to welcome the giant gem, which is likely to be displayed in a museum.
