Jeweler Claims He Lacks Stones!

7/15/2008 9:48 AM PDT

Jeweler Claims He Lacks Stones!

A Hollywood jeweler is suing Harry Winston, the famous jeweler in Bev Hills, claiming H.W. is holding the most valuable sapphire in the world hostage!

In a lawsuit filed today in L.A. County Superior Court, Jack Armstrong claims Gabrielle Grobe-Guiton and he own the Black Star Sapphire of Queensland, a 733-carat jewel. He alleges he sent it to Harry Winston on loan, but H.W. refuses to return it.

Armstrong claims he has a prospective purchaser who wants to see the stone but H.W. refuses to produce it for inspection.

Armstrong is suing for $5 million in damages plus another $20 mil in punitive damages. Holy Zales.