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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGod DAMN, son! "Tycoon buys $48m diamond at auction for daughter"
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
(4,711 posts)I swear, peoples' values are really screwed up.
MuseRider
(34,111 posts)and apparently helping others less fortunate is not one of those somethings.
mythology
(9,527 posts)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
(16,113 posts)FreakinDJ
(17,644 posts)Rex
(65,616 posts)Must be nice to own most of Hong Kong.
Initech
(100,079 posts)Tax the living shit out of them already!
hedda_foil
(16,375 posts)That would be taking diamonds from a baby.
lumberjack_jeff
(33,224 posts)hughee99
(16,113 posts)How is there no extradition treaty between two parts of the same country? Is this a common thing in other countries?