This article is published courtesy of Israeli Diamond Industry Blog
Author: Roe Kalb
No matter how much you try to keep an eye on your belongings when you’re visiting a crowded mall, you still may end up forgetting or losing something, somewhere.
A visit to a Florida mall three years ago saw Chad Davis, of Orlando, Florida, misplace something slightly more expensive than his cell phone – he lost $3 million worth of diamonds.
As Davis tells it, while he was on a shopping trip in a Florida mall in 2007, he accidentally left a bag containing diamonds, packed in a small plastic box, under one of the tables in the food court.
The gems, which were never found, were bought from Belgium diamond supplier Rosy Blue. The company has accused Davis of stealing the gems and the subsequent litigation has driven him to bankruptcy.
Davis’ involvement with Rosy Blue began in 2006, via businessman and diamond trader Eddie Lane. According to court documents, Davis and Lane flew to Rosy Blue’s office in Belgium, and allegedly manipulated the company into thinking that Davis was an established diamantaire with the means to buy diamonds. Rosy Blue sold Davis $6.5 million worth of gems.
Though Davis kept up the payments for six months, the Belgian company now claims that they were made “as a ploy to obtain Rosy Blue’s trust and willingness to sell him more diamonds.”
According to Davis’ version of the events, he stopped at the mall’s food court for lunch and put several shopping bags, including the one containing the diamonds, under the table while he ate. It wasn’t until he got home that he realized the bag with the diamonds was missing. The bag itself was eventually found – empty.
Court records further revealed that while Davis reported his loss to the mall’s security department immediately, he did not file a police report for six days. Davis explained the delay by saying he was “in shock from the loss.”
Davis also claimed that it is possible he was followed by someone, and that that someone may have stolen the bag. Being a diamond broker, he said in his police statement, “Is so high-risk. People are getting robbed all the time.”
Rosy Blue, however, dismissed Davis’ theory as lacking credibility. The company has also filed suit against Lane, who it claims conspired “to defraud Rosy Blue out of millions of dollars worth of diamonds.” The case is still pending.
Realizing that you’ve lost something important – having your bicycle stolen, forgetting your new smartphone somewhere, or finding out that some “good Samaritan” help himself to your wallet – is one of the most frustrating moments one can experience, but overall, we tend to get over it after a few days. One has to wonder how long it would take Chad Davis to get over his astronomical loss.