Supermodel Miranda Kerr's billionaire ex-boyfriend is accused of being the mastermind of the theft of $4.5 billion from a Malaysian development fund. Kerr has been dragged into the melee because her ex, Jho Low, gifted Kerr with an 11.72 carat diamond on Valentine's Day 2014 and other gems that were presumably bought with those stolen funds. The U.S. government is now trying to seize the assets that were bought with the stolen cash, including Kerr's diamonds.
Low, a Malaysian financier, began courting Kerr by showering her with expensive gems shortly after her divorce from actor Orlando Bloom. He met with Manhattan based jeweler to the jet set Lorraine Schwartz in his New York City condo (also allegedly bought with stolen funds) and told her that size did not mattered and that he could spend up to $2 million. He ended up buying a heart shaped diamond for $1.29 million. He then had Kerr's initials engraved into the diamond before giving it to her as a Valentine's Day present. That gem was just the beginning.
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In November 2014, Low paid $3.8 million as a down payment on an 8.88 carat diamond pendant. The chain for the pendant cost an additional $800,000. The necklace was sent to Low's London office at a lingerie company that the U.S. government suspects was also bought with stolen money. He gave the $4.5 million necklace to Kerr as a gift.
But that's not all! Low then spent another $1.98 million on 11-carat diamond earrings and a matching ring, bracelet, and necklace. Those diamonds were given to Kerr while the couple was enjoying his new yacht. The U.S. government is also trying to seize the yacht.
If the Feds succeed in their lawsuit to get back assets bought with stolen funds, then the government can sue Kerr to get the diamonds back. Of course, she can also just agree to hand them over on her own.
The gems are part of more than $1.6 billion worth of assets that the U.S. government is attempting to recover. Other assets include art, jewels, the yacht, and a jet.
Kerr, who recently married billionaire Snapchat founder Evan Spiegel, has been cooperating with the investigation, but still has the diamonds in her possession. The feds have not yet asked her to hand them over.
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