​In July of 2007, more than $20 million in jewelry was stolen from a Graff’s jewelry store in London. One of the largest pieces later turned up in a Hong Kong pawn shop, and now Graff’s is suing the Hong Kong pawn shop to recover the diamond.

The theft occurred on July 5, 2007 on Sloane Street in London. One of the biggest pieces stolen was a more than 16 carat yellow diamond of very high quality. At some point it appears that the diamond was recut and put into a new setting.

This was discovered when the Hong Kong pawnshop, Yau On Company, asked the Gemological Society of America to appraise the stone’s quality. The Gemological Society quickly ascertained that the stone was the yellow diamond that had been stolen in the Graff's robbery. They informed Graff's of their discovery, and they are now holding the diamond pending resolution of the ongoing dispute.

Graff's filed a complaint with the New York courts system, since the Gemological Society is holding the gem in a lab in upstate New York. In their complaint Graff's is requesting that the Yau On pawnshop immediately return the diamond, and also that they pay the court costs and attorney’s fees for the lawsuit.

The Hong Kong pawnshop claims that they received a certificate for the diamond from another certification body other than the Gemological Society, and that they never would have purchased the diamond if they had known it was stolen.

New York Supreme Court in Manhattan is the presiding judicial body for this case. Neither the Gemological Society nor Graff's is publicly commenting on the case at this time. The case seems fairly open and shut, and it seems likely that Graff's will get their stolen diamond back very soon.