Huge diamond forfeited in Ohio to be auctioned

AP News
Posted: Sep 06, 2011 3:01 AM
Huge diamond forfeited in Ohio to be auctioned

A large yellow diamond seized in a federal drug and money laundering investigation in Ohio is going on the auction block with a minimum starting bid of $900,000.

The U.S. Marshals Service's online auction of the 43.51-carat Golden Eye diamond will begin Tuesday and continue until Thursday afternoon.

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

The diamond was seized in a sting operation and was forfeited to the federal government. The U.S. Marshals Service contracted with Silver Spring, Md.-based company Bid4Assets to auction it online.