God DAMN, son! "Tycoon buys $48m diamond at auction for daughter"

[Blue_Tires]

Joseph Lau confirmed he bought the ring-mounted, cushion-shaped stone for his seven-year-old daughter, renaming it "Blue Moon of Josephine" after her.

Auction house Sotheby's said the sale had set "a new world auction record for any diamond of any colour".

It is not the first time Lau, a property billionaire, has bought precious stones for his daughter.

The businessman - who was convicted of bribery and money laundering in 2014 - is also confirmed as the buyer of a 16.08-carat pink diamond, which Christie's sold for $28.5m on Tuesday.

It has been renamed "Sweet Josephine", a spokeswoman for Mr Lau told BBC News.

In 2009, he bought another blue diamond for his daughter - the 7.03-carat "Star of Josephine" - paying what was then a record $9.5m.

He was sentenced to five years in jail after his corruption convictions in a Macau court, but has avoided prison by not visiting the territory. There is no extradition treaty between Macau and Hong Kong.

http://www.bbc.com/news/world-europe-34795005


I guess when you have that much dirty money you almost have to find shit to spend it on...

[Jester Messiah]

1. It's just a damn rock!

I swear, peoples' values are really screwed up.

[MuseRider]

3. Ya gotta spend it on something

and apparently helping others less fortunate is not one of those somethings.

[mythology]

4. Yeah but why not spend it on something more substantial?

I don't even mean on doing something good.

But on an experience or a classic painting, not something a kid is quite possibly going to lose.

[hughee99]

8. Look at it this way, he took all this money and dumped it back into the economy. n/t

[FreakinDJ]

2. Hush money

[Rex]

5. He is worth around 10 billion. What is this paltry million number being drooled over?

Must be nice to own most of Hong Kong.

[Initech]

6. And that's exactly why we hate the rich.

Tax the living shit out of them already!

[hedda_foil]

7. If he's caught, those millions will belong to little Josie Gotrocks, and won't be confiscated.

That would be taking diamonds from a baby.

[lumberjack_jeff]

10. +1. It's money laundering. n/t

[hughee99]

9. Macau and Hong Kong are both "special administration regions" of China.

How is there no extradition treaty between two parts of the same country? Is this a common thing in other countries?