Lev Leviev Sues Former Jewelry Business Partners

Send in e-mailSend in e-mail
Send in e-mailSend in e-mail

Lev Leviev, the Israeli diamond and real estate mogul, has filed a lawsuit in Manhattan in which he accuses partners in a jewelry business, KLG Jewelry, of excluding him from the operations of the business, the New York Post reported earlier this week.

Leviev, whose fortune is estimated at $1.5 billion, claims that since he and his business partners from the Julius Klein Group parted ways in September last year, he has not received any information about KLG's operations while attempting to come to a settlement that would dissolve the partnership. Leviev claims a 43.5% interest in the business, the newspaper said. Leviev is now seeking to bar his former partners from selling what he called "highly mobile and not easily traceable diamonds" in their possession.

The paper also noted that this past summer, in the course of the split, "a lone gunman strolled into the Carlton Intercontinental Hotel in Cannes and swiped stone-encrusted rings, watches and earrings on exhibition from Leviev’s inventory." In the lawsuit, Leviev, who lives in London, asserts that the diamond heist, in which $53 million in jewels were stolen during the Cannes Film Festival, underlined the seriousness of the situation because, he said, he is concerned that his partners could take the insurance proceeds and deprive him of the portion that is rightfully his.

According to the New York Post, the Julius Klein Group is led by Martin, Abraham, Moshe and Malka Klein of upstate New York. A response from the Kleins was unavailable due to the Sukkot holiday, the newspaper reported.

Lev Leviev.Credit: Ofer Vaknin

Click the alert icon to follow topics: