WEST PALM BEACH, Fla. -- (WPIX) -- A billionaire’s heir is suing his former fiancée to get a $250,000 engagement ring back, the Palm Beach Daily News reports.
Wyatt Koch, Florida fashion designer and son of Bill Koch, paid $180,000 for an 8.24 carat diamond ring for Ivie Slocumb in March, but Koch’s lawyer says it was recently appraised at a quarter of a million dollars. According to Page Six, the lawsuit, which was filed Tuesday, claims Slocumb ended the engagement in May.
Koch has asked for the ring back multiple times, but Slocumb hasn’t returned it, the lawsuit claims. “She received the ring as a conditional gift,” the lawsuit states. “She refuses to return it despite proper demand.” In addition to the ring, Koch is seeking $15,000 in damages. His father is reportedly worth approximately $1.7 billion.