[2] There was an ownership dispute after it was reported stolen in September 2008 from a secured vault in South El Monte in Los Angeles County, California.
Eventually, the emerald was seized from a gem dealer in Las Vegas and taken into the custody of the Los Angeles Sheriff's Department.
After a series of legal actions, Judge John A. Kronstadt of the Los Angeles County Superior Court announced in September 2010 that he would hear the case.
On January 29, 2014, Judge Kronstadt issued a ruling rejecting the claims of Anthony Thomas, leaving the determination of the remaining claimants for a future trial.
[6] After a trial on March 30, 2015, in the Los Angeles Superior Court, the Honorable Michael Johnson, the judge who succeeded Judge Kronstadt in the civil case, entered a final order on June 23, 2015 determining and ruling that FM Holdings, LLC was the bona fide purchaser of the Bahia Emerald and that title to the Bahia Emerald is now held solely and exclusively by FM Holdings, LLC by a series of agency relationships and lawful transactions.