'Cursed' Emerald Set To Return To Brazil After Decades Long Legal Battle

After 24 years of legal battles spanning continents, the 'cursed' Bahia Emerald - a 397 kg pound gemstone reputed to be the world's largest - is finally set to return to Brazil. US District Judge Reggie B Walton ruled on Thursday that the emerald, worth an estimated $1 billion, should be sent back to its homeland, brushing aside claims from American investors who had long argued for its ownership.

"We're very happy with the decision," Boni de Moraes Soares, a federal prosecutor from Brazil, told The Washington Post. "We're closer than ever to bringing the Bahia emerald back to the Brazilian people."

The story of the emerald dates back to 2001, when it was illegally mined from Brazil and smuggled into the US. Its journey has since seen accusations of fraud, criminal convictions, and ownership disputes, with the gemstone ultimately landing in the custody of the Los Angeles Sheriff's Department, where it has languished for more than 15 years.

Considered 'cursed' due to its troubled history, the emerald survived a panther attack during its transport and flooding from Hurricane Katrina. Ownership battles raged for over a decade, with the Brazilian government and multiple parties fighting for control. Rumours also linked the emerald to criminal activities, including ties to the Brazilian Mafia and a questionable $197 million deal with Bernie Madoff.

Brazil has long claimed the emerald as a national treasure, saying that it was illicitly removed and calling for its return under a Brazilian court's forfeiture order. The US government, working under the Mutual Legal Assistance Treaty, supported Brazil's efforts, leading to the decisive ruling by Judge Walton.

"The Court has concluded that the Intervenors' positions are insufficient to prohibit the return of the Emerald to Brazil," the judge wrote, referencing the claims of American gem speculators. "The Court must therefore enforce the Brazilian Forfeiture Judgment of the Bahia Emerald."

Among those contesting the ruling was Kit Morrison, an Idaho businessman who had invested $1.3 million in the emerald's sale. While he accepted the decision, Mr Morrison had no bitterness. "I don't have any feeling of defeat or loss," he said. "When you are an investor and entrepreneur, you do everything you can to protect, preserve, and improve the investment and opportunity. However, you cannot control the things that are out of your control."

Brazil is now ready to welcome the colossal gemstone back, likely to be displayed in a museum.