Bobby Yashaya, 45, owner of Max Jewelry on 47th Street, was packing up merchandise for the annual JCK jewelry show in Las Vegas on a Friday afternoon when the incident occurred. He had placed a pair of diamond earrings and four diamonds, ranging in weight from eight to twelve carats, in white paper pouches that he secured with rubber bands. He put these down among a stack of papers and napkins from his counter, and unthinkingly handed the stack to a maintenance man who was collecting trash.
Five days later, when Yashaya was in Las Vegas, he realized his mistake. His wife went to his office building to try to recover the jewels, to no avail. Yashaya was so devastated at the loss, that he said, “My heart fell and I couldn’t work.”
His insurer, Lloyd’s of London, subjected him to two full days of sworn testimony and cancelled Yashaya’s policy, a move that has left his business “paralyzed.” Lloyd’s of London has yet to pay on Yashaya’s claim and Yashaya has filed suit against the company, claiming breach of contract. He hopes to win $2 million in damages.