{"id":648916,"date":"2017-04-14T08:10:44","date_gmt":"2017-04-14T08:10:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/14\/is-the-bahia-emerald-just-another-gem-of-a-hoax\/"},"modified":"2017-04-14T08:10:44","modified_gmt":"2017-04-14T08:10:44","slug":"is-the-bahia-emerald-just-another-gem-of-a-hoax","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/14\/is-the-bahia-emerald-just-another-gem-of-a-hoax\/","title":{"rendered":"Is the Bahia Emerald just another \u201cgem of a hoax?\u201d"},"content":{"rendered":"

Is the Bahia emerald worth the trouble or is it just another hoax? <\/strong>Accidental business partners Jerry Ferrara and Kit Morrison seem to think it\u2019s the former. The pair have been tied up in court cases for the last 10 years or so trying to prove themselves the rightful owners of the 752-pound Bahia emerald, a huge black rock \u201cwith cylinders of emerald\u201d protruding out of it<\/strong> (watch<\/a>, runtime 2:15). This rock \u201cis the size of a mini fridge [and] weighs as much as two sumo wrestlers,\u201d Elizabeth Weil writes in a piece for Wired<\/a>. \u201cEstimates of worth range from a hundred bucks to USD 925 mn.\u201d <\/strong>It goes without saying then that everyone who get even a little bit close wanted in on a piece of the pie, but none got any. Since this emerald was unearthed from a mine in Bahia in East Brazil back in 2001, it appears to have brought and cost nothing but trouble for those who tried to procure it;<\/strong> four court cases were filed, 14 people or entities \u2014 including the government of Brazil \u2014 have tried to claim it as their own, a house reportedly burned down, a man was allegedly kidnapped, and three people filed for bankruptcy.<\/p>\n

But has it all just been a big waste of time? <\/strong>What science (and life) tell us about emeralds suggest that this one particular rock may just be another MacGuffin<\/strong>, or in Weil\u2019s words \u201can object that everyone\u2019s chasing but doesn\u2019t really matter.\u201d Not only are emeralds complex in their formation, but almost all are typically full of impurities,<\/strong> cracks and inclusions that cause the stone to shatter if anyone tries to cut along them. The Bahia emerald, which is said to have survived Hurricane Katrina and has been sitting in a secret LA county vault since it was seized in 2008<\/a>, is \u201chuge, strange, and composed of low-quality crystals\u2026<\/strong>imagine a petrified Jello mold made by Wilma Flintstone for a dinosaur.\u201d But whether or not this stone is a hoax, it seems unlikely at this point that anything anyone says or does is capable of getting Ferrara and Morrison off its trail. The two partners had even won the case in 2015, only to be contested days later by the country of Brazil. <\/strong>One thing is for sure though, they are also not the first, nor will they be the last to fall in the thrall of a large and shiny rock that doesn\u2019t live up to expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is the Bahia emerald worth the trouble or is it just another hoax? Accidental business partners Jerry Ferrara and Kit Morrison seem to think it\u2019s the former. The pair have been tied up in court cases for the last 10 years or so trying to prove themselves the rightful owners of the 752-pound Bahia emerald, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9257],"tags":[72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-648916","post","type-post","status-publish","format-standard","hentry","category-on-your-way-out","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"125eb47e-115a-42fa-9826-29046cc291f1","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[648891],"teaser":"","voice_url":""},"yoast_head":"\nIs the Bahia Emerald just another \u201cgem of a hoax?\u201d - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/14\/is-the-bahia-emerald-just-another-gem-of-a-hoax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is the Bahia Emerald just another \u201cgem of a hoax?\u201d\" \/>\n<meta property=\"og:description\" content=\"Is the Bahia emerald worth the trouble or is it just another hoax? 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Emerald kicked off its private placement and public offering last Wednesday, marking\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568627,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/29\/real-estate-firm-emerald-to-debut-on-stock-exchange-in-10-days\/","url_meta":{"origin":648916,"position":1},"title":"Real estate firm Emerald to debut on stock exchange in \u201c10 days\u201d","author":"enterpriseam admin","date":"29 January 2020","format":false,"excerpt":"IPO WATCH- Emerald set to become Egypt\u2019s first IPO of 2020 in 10 days -Omran: Real estate investment firm Emerald will make its EGX debut \u201cwithin 10 days,\u201d making it this year\u2019s first IPO, Financial Regulatory Authority Chairman Mohamed Omran said, according to the local press. EGX boss Mohamed Farid\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591839,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/18\/egyptian-real-estate-investment-firm-emerald-to-ipo-around-mid-january\/","url_meta":{"origin":648916,"position":2},"title":"Egyptian real estate investment firm Emerald to IPO around mid-January","author":"enterpriseam admin","date":"18 December 2019","format":false,"excerpt":"IPO WATCH- Emerald to offer 28% stake in January IPO: Real estate investment firm Emerald is planning to sell 28% of its shares on the EG\u0652\u0652X in the middle of January 2020, CEO of Egyptians Real Estate Fund Hashem El Sayed said, according to Al Mal. The company will offer\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575680,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/22\/odin-to-list-subsidiary-on-nilex-by-early-2021\/","url_meta":{"origin":648916,"position":3},"title":"Odin to list subsidiary on Nilex by early 2021","author":"enterpriseam admin","date":"22 October 2020","format":false,"excerpt":"IPO WATCH- Odin subsidiary Emerald for Project Management to make Nilex debut next year: Odin Investments plans to IPO subsidiary Emerald for Project Management & Development on the small-cap Nilex at the end of 2020 or beginning of 2021, CEO Hashem El Sayed told Al Mal. 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