Tuesday, September 6, 2011

Maryland company set to auction large yellow diamond

A Maryland company is set to auction off a large yellow diamond — known as the "Golden Eye" — that was seized in a federal drug and money-laundering investigation. The minimum starting bid: $900,000.

Bid4Assets, based in Silver Spring, is set to auction the diamond for the U.S. Marshals Service. Bidding will start Tuesday and end Thursday.

The 43.51-carat diamond belonged to a northeast Ohio businessman who was convicted of money laundering and conspiracy. Prosecutors said he tried to sell to an undercover FBI agent the diamond and an estate once owned by boxer Mike Tyson, all for $19.5 million and a boat.

The gem was seized in the sting operation and forfeited to the federal government. It is believed to be one of the largest internally flawless yellow diamonds.

1 comment:

  1. He calls himself "just a country boy," but a retired home builder from Trumbull County just out-bid the world for one of the most notable diamonds on the planet.

    Jerre and Donah Hentosh of Cortland are proud owners of The Golden Eye Diamond. It's a 43.51 carat diamond, one caret less than the famed Hope Diamond. It's a yellow or canary diamond. The cut is a one inch long rectangle and its clarity is rated internally flawless.

    It was confiscated during an FBI investigation and was sold this week by the U.S. Marshall's Office in an on-line auction.

    "We read about the auction and the stone and I know diamonds pretty well, precious metals, so we decided to bid because we thought it might be exciting and an opportunity," Jerre Hentosh said.

    Jerre says they made several bids and couldn't believe they ended up with the winning bid. "Shocked, I didn't have a clue. I thought some big wheels would be there instead of a little country boy like myself," Jerre said.

    "I just thought there was no way that the two of us living in Cortland, Ohio had a chance against people probably all over the world," said Donah Hentosh.

    The diamond was seized by the FBI in 2006 from Paul Monea of Alliance. He was arrested after he attempted to sell the diamond and the former Southington estate of boxer Mike Tyson to an undercover FBI agent.

    Monea was convicted of money laundering and is serving a 13 year sentence in federal prison.

    Jerre and Donah just learned that the Golden Eye is listed as number four on the list of the ten most notable diamonds in the world.

    Donah says Jerre was a successful businessman and they saved their money. "We live pretty frugally and I mean that's the way were able to save the money we do," Donah said.

    When and if they sell the diamond, they plan to give the money to charities that help the poor.


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