Diamonds Left Under Table

Published on 04/05/10

During a trip to the mall, some people lose their cell phone. Others leave a credit card at the counter. Chad Davis? He says he left $3 million in diamonds.

As Davis tells it, he accidentally left the jewels under a table at the Florida Mall food court during a shopping trip with his wife about three years ago.

Three years later, the gems are still missing, lawyers are fighting over the millions and Davis has filed for bankruptcy.

What's more, Rosy Blue, a Belgium-based distributor from whom Davis got the diamonds, has accused him of concocting the mall story as a scam.

But Davis, a 38-year-old living in Orlando, is sticking to his story and says Rosy Blue has it wrong. "All their claims are frivolous," he said.

Rosy Blue obtained a $6 million judgment in Orlando federal court against Davis and his company, Davis & Associates. But with the weak economy, Davis said he wasn't able to pay it. He didn't have insurance to cover the lost gems.

Now the company is battling Davis in Orlando bankruptcy court, where it will try to convince a judge not to discharge Davis' debt.

Davis' involvement with Rosy Blue dates to 2006, when the two were introduced to each other by Cincinnati businessman Eddie Lane, according to federal lawsuits filed in Orlando and Ohio.

Davis and Lane flew to Rosy Blue's office in Antwerp, Belgium, during the spring of 2006. The two gave Rosy Blue the impression that Davis had "significant" assets to buy diamonds and had an established business and clients, according to Rosy Blue.

So the Belgian company agreed to sell about $6.5 million worth of diamonds to Davis, court documents said.