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cartier love bangle 17 Madoff mailed pricey jewelry

By Pallavi Gogoi, USA TODAY

NEW YORK The packages that Bernard Madoff mailed to family and friends while out on bail since his Dec. 11 arrest for allegedly conducting a massive securities fraud contained a lot more than cuff links and mittens, according to court documents released Wednesday.

Prosecutors seeking to have Madoff jailed said he violated his bail terms by mailing five packages to family and friends. They contained at least 15 watches, including two diamond Tiffany and Cartier watches, a diamond necklace, four diamond brooches and other jewelry.

Prosecutors said one package contained items worth at least $1 million. Attorney Mark Litt said Madoff’s $10 million bail should be revoked because he disobeyed a court order freezing his assets. The prosecutor also said Madoff poses a danger to the community by potentially causing additional economic harm to his victims, who may try to recover some of their losses from his assets. "The need for detention in this case is clear," Litt said.

FILING A CLAIM: SIPC information on Madoff case

Madoff, who the government charges has admitted to committing one of the largest frauds in history in a $50 billion Ponzi scheme, mailed the packages while under house arrest in his $7 million Manhattan apartment.

Madoff’s lawyer, Ira Sorkin, downplayed the value of the mailed items at a Jan. 5 court hearing, when prosecutors first demanded that Madoff be sent to jail, saying the items included $25 cuff links and $200 mittens.

But prosecutors say he mailed to relatives these packages that have since been recovered:

worth at least $1 million contained 13 watches, a diamond necklace, an emerald ring and two sets of cuff links.

that between them contained a diamond Cartier watch, a diamond Tiffany watch, a diamond bracelet, a gold watch, four diamond brooches, a jade necklace and other jewelry.

The government said it didn’t know the contents of two other packages that were mailed to Madoff’s brother Peter and an unidentified family in Florida.

In a court filing late Wednesday, Sorkin argued that Madoff should remain free, Bloomberg News reported. "He simply did not realize that it pertained to personal items," Sorkin wrote of the freeze order. "To Mr. and Mrs. Madoff, the value of these items was purely sentimental."

Observers were surprised that Madoff would even consider mailing the packages while facing allegations of operating a $50 billion Ponzi scheme whose victims included financial institutions, foundations, charities and individual investors.

"It’s pretty ballsy," says Patrick Begos, founding partner of law firm Begos Horgan Brown. "It’s not much of a reach for a guy to think he’s above everything else when he can steal from charities and organizations he’s heavily involved with."

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cartier love bracelet size 16 How celebrities are influencing engagement rings

"It came as a shock. I expected to sell about one or two a month, but they’re all gone," said Mr Hashem, owner of Diamond Emporium.

"Consumers are definitely influenced by celebrity culture and what celebrities are doing. Without a doubt you do see a spike in inquiries and demand about certain cuts and designs."

Australian jewellers say recent celebrity and royal engagement rings have triggered greater demand for bigger diamonds, coloured dominant stones, and thinner bands.

Mr Hashem, who offers an online customisation service, said the average Australian man splashed between $8000 9000 on an engagement ring, about double the figure 10 years ago.

He said in recent years, actress Jessica Alba’s cushion cut diamond, actress Blake Lively’s giant, oval shaped rock, and singer Beyonce’s emerald cut eye popper had sparked the greatest number of inquiries.

"Larger diamonds (from 1.7 carats) are becoming the preference. Budgets aside, people are comfortable having a size that 10 years ago was considered a bit ostentatious," he said.

A diamond ring on display at Fairfax Roberts Jewellers in Sydney. Photo: Dallas Kilponen

Laura Sawade from wedding ring supplier Peter W Beck said according to a Brides To Be survey, the average spend on an engagement ring was $6934 in 2014 15.

She has noticed a strong move towards coloured stones being used as the dominant stone, whether diamond or non diamond.

Gus Hashem, founder of Diamond Emporium, examining a diamond. Photo: Supplied

"It changed when [Duchess] Kate Middleton got engaged with the sapphire and diamond ring. It made other stones more acceptable," said Ms Sawade, also the vice president of Jewellers Association of Australia.

"Pink and yellow diamonds are very popular. Black diamonds as well. We’re seeing a lot of emeralds, rubies and sapphires being used as the dominant stone."

The popularity of the princess cut had slightly waned and the average width of the band had dropped by a millimetre, but she said there would always be a demand for both "incredible classics" and "unique designs".

Georgina Brujic, the newly installed chief executive of high end jewellery house Fairfax and Roberts, said she encouraged couples to keep their ring as unique and personal as possible.

"One thing we say to every customers is: ‘Find the one that suits’. You’ll find your personality in the right ring, which is far more important than what Packer gave Mariah Carey," she said.

"Sometimes you’ll find the bigger one isn’t the best one because it doesn’t suit."

Fairfax and Roberts, recognised as Australia’s oldest jewellery house, is home to the "fancy intense" yellow diamond ring, which has a price tag of $412,600.

Ms Brujic revealed its bespoke engagement rings averaged about $40,000 $50,000, though some were sold for $8000.

She agreed that big and colourful stones were back in favour, which to her indicated that people were designing rings that better suited their personality.

"People are also focusing more on quality, rather than the biggest for the best possible price. They’re more knowledgeable and asking a lot more questions," she said.

"My personal favourite celebrity ring is Mary Kate Olsen’s one. It’s a 1950s Cartier and it’s the most gorgeous ring I’ve ever seen in my life. It’s stunning, just stunning."

cartier love bracelet white Articles about Cartier S A

In Orange County, people can’t depend on trees to drop their leaves to hearken the end of summer. Here, fall’s arrival is marked by the opening of new stores at area malls. Two of the glitzier debuts are coming this month at South Coast Plaza in Costa Mesa. Emporio Armani, a collection of men’s and women’s casual clothes by designer Giorgio Armani, opens Sunday. The 8,000 square foot store will be the third Emporio Armani in the nation, with the other two in New York and Honolulu. In Orange County, people can’t depend on trees to drop their leaves to hearken the end of summer. Here, fall’s arrival is marked by the opening of new stores at area malls. Two of the glitzier debuts are coming this month at South Coast Plaza in Costa Mesa. Emporio Armani, a collection of men’s and women’s casual clothes by designer Giorgio Armani, opens Sunday. The 8,000 square foot store will be the third Emporio Armani in the nation, with the other two in New York and Honolulu. Cartier is still proving that diamonds are a popular sign of glittering success. Despite the recession, the Cartier store at South Coast Plaza is thriving, store officials say. A pricey cigarette bearing the Cartier name and logo once reserved for the likes of fine jewelry makes its American debut in the Los Angeles area this week. The cigarette already is sold in Europe. Cartier is still proving that diamonds are a popular sign of glittering success. Despite the recession, the Cartier store at South Coast Plaza is thriving, store officials say.

Cartier love bracelet yellow gold

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