On 11th April 2011, Los Angeles Superior Court Judge John A. Kronstadt signed a Tentative and Proposed Statement of Decision finding Anthony Thomas’ claim of ownership of the Bahia Emerald not credible. After hearing the evidence, the Judge found that Mr. Thomas never purchased the Bahia Emerald. If the Judge’s Tentative and Proposed Statement of Decision becomes final, Mr. Thomas will have no claim to ownership of the Bahia Emerald.
The Bahia Emerald weighs 36kg and is the world’s largest single shard of emerald ever found. It was mined in Bahia State, Brazil before being moved to the United States and has been valued at $400 million. Until the ownership dispute is resolved, the Bahia Emerald remains in the custody of the Los Angeles Sheriff’s Department.
On 8th September 2010, Kit Morrison, Todd Armstrong, Jerry Ferrara, and FM Holdings, Inc. reached an undisclosed settlement with Petitioners Ken Conetto and Forrest Wayne Catlett.
FM Holdings, Inc. which stands for “Ferrara & Morrison Holdings, Inc.” is a corporate entity whose shareholders include Jerry Ferrara, Kit Morrison and Todd Armstrong.