Flawless Diamond To Be Sold Online
August 14, 2011 by UPI - United Press International, Inc.
CLEVELAND, Aug. 14 (UPI) — A huge, flawless yellow diamond will be sold by the federal government in an online auction next month, officials say.
The 43.51-carat diamond was seized by FBI agents in 2006 during an undercover investigation leading to the conviction of Paul Monea for money laundering, the U.S. Marshals Service said in a release.
The diamond was forfeited to the U.S. government in 2007, but due to legal claims, the process of handing over the diamond was delayed until this past March.
Proceeds from the sale of the diamond, which is on worldwide lists of top diamonds, will go to the U.S. Department of Justice Assets Forfeiture fund.
“This precious gem is sure to generate interest worldwide,” said U.S. Marshal Pete Elliott of the Northern District of Ohio.
The auction will begin Sept. 6 with a minimum bid of $900,000.
Monea is in a federal prison in Ohio with a release date in 2018.