The New York papers are buzzing about a huge diamond that is now at the center of a multi-million dollar dispute: According to several sources, the Juliet Diamond – a $30 million 30-carat fancy intense pink diamond – is being held by one of its buyers, and now the other buyers are suing.
According to the lawsuit, two New York based diamond dealers, LJ West Diamonds Inc. and Scottali Equity Partners purchased the Juliet in 2011. They then sold 15% interest in the diamond to another New York based dealer, Global Diamond Group, and 10% to another dealer, that is not named in the lawsuit and isn’t involved in the dispute. On May 22, the two owners gave Global Diamond Group the diamond so they could show it to a prospective buyer. According to Global Diamond Group, they had received a “very substantial” offer for the diamond, but the two owners backed off from the sale. Now, according to the lawsuit, Global Diamond Group is refusing to return the gem. The buyers are suing to get the diamond back in their possession.
According to the lawsuit, the gem is “among the largest and most valuable colored diamond currently on the market”, and was exhibited at the Natural History Museum of Los Angeles in 2016.
