Bahia Emerald - 850 pounds - recovered but dispute arises

The Bahia Emerald, a precious stone weighing 850 pounds, has been recovered, the Los Angeles County sheriff’s office said on Friday.

Police will hold it until a court decides who owns it, the Associated Press reported. The emerald was taken from a vault in South El Monte and wound up in Las Vegas, Lt. Thomas Grubb told AP.

Grubb says the party who removed the stone from California showed paperwork convincing the guard that the party had the authority to remove the gem.

CNN reports the stone is 180,000 carats and could be worth up to $370 million. The dispute is between a California man who claimed ownership, a company he contracted to sell it and a potential buyer, Federal court papers showed according to CNN.

No criminal charges have been filed in the case, Grubb told CNN. The emerald was once on sale on eBay for $75 million, CNN reports.