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Gym boss has change of heart over stolen $11m diamond ring

California Fitness boss Eric Levine, whose 'on sale' US$1.4-million (HK$10.9 million) diamond ring was stolen from a jewellery store in Hong Kong by one of the world's most notorious jewel thieves, now says he wants the piece back.

The 15-carat diamond - from the famed Golconda mine in India - was stolen last year along with a more expensive 25-carat diamond ring from Michael Youssoufian jewellers in Central by French thief Jean Herrina, who has been arrested in Paris.

Last weekend, the Sunday Morning Post told how Herrina, 45 - who earned the nickname 'The Sultan' because he poses as an oil-rich sheikh to fleece his victims - feigned a heart attack at Mr Youssoufian's shop before grabbing the jewellery and jumping on a plane to Paris.

The thief, who has staged robberies from Beverley Hills to Sydney, was tracked down to the flight by Hong Kong detectives but slipped the net in the French capital because of bureaucratic red tape.

Mr Levine, who was selling the ring - which he called 'The Warrior' - because it had become too expensive to insure, now says he would consider taking it back.

'It is certainly a special ring and if it turns out that it is among what was seized when this guy was arrested, then yes, if I can find the right insurer, I may well take it back,' he said.

'The French authorities are still trying to identify what was seized, so we will just have to wait and see.'

Mr Youssoufian, who is being sued by Mr Levine over the ring and who has in turn taken action against his insurer, said this week he was also anxiously waiting to see if the ring turned up.

Since his arrest in Paris, Herrina has been transferred to Nice where authorities believe he carried out the latest of his exploits.

Meanwhile, detectives investigating the theft of HK$23 million worth of diamonds from the Hong Kong Jewellery and Watch Fair at the Hong Kong Convention and Exhibition Centre last week, have not ruled out it having been an inside job.

One set of diamonds was stolen from a safe and the other set as a stall holder turned his back while showing goods off to another customer.

Police Senior Inspector Chan Wai-man said: 'The only way into that safe was by someone who knew the combination. But there is a suggestion that it might not have been locked properly; and we cannot rule out the possibility that it was a very professional gang.'

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