The Jane Seymour diamond ring . Karan Chandur Tilani was seen with British-US actress Jane Seymour at the 'Art For Charity' gala evening in Singapore on April 29, 2016. - Photos: World of Diamonds Group, AFP file
Court papers noted those false claims were the basis for Dutch investor Maarten Hein Bernard Koedijk’s decision to enter into a number of deals with Tilani. Tilani claimed that Koedijk owed him an outstanding $339,659, which he refused to pay. This prompted the Singaporean to begin arbitration proceedings.Instead, he said Tilani had proposed a fractional ownership investment scheme to him and other investors, where they could own a certain percentage of the Jane Seymour diamond ring at an agreed price.
Justice Lai went on to dismiss Tilani’s claims and ordered him to pay compensation to Koedijk – up until this point, the arbitration was confidential as court documents were sealed. Documents from the arbitration case showed how Tilani had sought to get Koedijk to invest in the diamond. Singaporean Vincent Hee was reported to have paid for the experience and the ring was served together with the meal.Justice Lai highlighted that the value of the diamond ring was vastly inflated based on unscientific and arbitrary expert valuations provided by Tilani’s expert witness.