Pearland resident sued over $3.5 million diamond necklace sale

A Montrose-area business is suing after, it says, Memorial and Pearland residents conspired to swindle it out of $1.5 million during the sale of a 43-carat yellow diamond necklace.

Andypolo LP, of Montrose, filed a lawsuit on June 24 in Harris County District Court against Memorial’s Nouri Gallery, Pearland resident Babak Nouri, Memorial resident Siamak Nouri and others citing fraud, breach of fiduciary duty, negligence, negligent misrepresentation and conspiracy.

The suit alleges that in late 2009, the defendants lied about the value of a 43-carat yellow diamond necklace, including a 1.5-carat oval diamond and decorated with 42 carats of white diamonds, they sold to Andypolo for $3,526,000.

Andypolo says that after receiving disturbing news of other frauds being perpetrated by the defendants, it investigated and discovered that the necklace, which the defendants appraised at $12.6 million, was worth only $2 million on the open market.

Andypolo is seeking damages, attorney’s fees and court costs. It is being represented in the case by Houston attorney Wm. Bruce Stanfill.

Harris County District Court Case No. 2011-37932.

This is a report on a civil lawsuit filed at the Harris County Courthouse. The details in this report come from an original complaint filed by a plaintiff. Please note, a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it only represents one side of the story.