Kim Rothstein charged with hiding $450,000 yellow diamond ring
– Article by Cecilia Jamasmie | September 11, 2012 of Mining.com
Kim Rothstein, the second wife of disbarred US attorney Scott Rothstein, who ran a massive $1.2 billion fraudulent investment scheme, was charged with conspiracy to commit money laundering last week as she hid $1 million in jewellery from U.S. authorities trying to seize his assets to repay investors.
The most flamboyant jewel was a massive 12.08-carat yellow VS2 radiant-cut diamond ring, valued at $450,000, reports the Sun Sentinel.
“Hugely rare and hugely big. It would be like wearing an ice skating rink on your finger,” Fred Waldman, manager of Provident Jewellery in West Palm Beach, said of the gem Scott bought Kim in 2008, when describing it to the Sun Sentinel’s reporter. He paid a bit over $403,000 at the time.
“Yellow diamonds are some of the world’s most beautiful fancy colour diamonds and have been the choice of royals and celebs throughout the ages,” said Jean-Christophe Bedos, President and CEO of Birks & Mayors Inc. The company brought the largest collection of yellow diamonds ever exhibited in the jeweller’s history to Toronto, Canada, in May.
Scott Rothstein, who is serving a 50-year prison term, was the former managing shareholder, chairman and CEO of the now-defunct Rothstein Rosenfeldt Adler law firm. He was accused of funding his philanthropy, political contributions, law firm salaries and an extravagant lifestyle with the now famous $1.2 billion Ponzi scheme.
Image: Kim and Scott Rothstein in 2009, before the attorney was sentenced to 50 years in prison for a $1.2 billion Ponzi scheme. She is wearing the $450,000 diamond ring, via You Tube.