Non-documented (floods) Diamonds are “Thrown Out” and the Guy wants Insurance? –



Midtown jeweler sues insurance company that won’t reimburse him for nearly $1M in diamonds he says were accidentally thrown out

A Diamond District jeweler is suing his insurance company for refusing to reimburse him for $800,000 worth of diamonds — which he claims were accidentally thrown out with the trash.

Babek “Bobby” Yashaya, the owner of Max Jewelry, a small booth selling luxury trinkets on W. 47th St., went to Las Vegas for a show starting at the end of May and realized that four massive diamonds he intended to bring — all exceeding eight carats — and a pair of diamond earrings were missing, according to court papers filed in Manhattan Supreme Court.

Yashaya believes the bling was accidentally tossed in the garbage before he left New York and says he immediately called his insurer Wasserman & Wexler, an agent of Lloyds of London, to make a claim.

“Of course I am upset,” he said Friday. “We opened up the suitcase and took all the merchandise out and realized, it’s not there.”

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In court papers, Yashaya claims Michael Tocicki, the insurance adjuster that handled the claim, harassed him and his wife, asked for the same paperwork repeatedly and refused to honor the claim.

“They give me a hard time,” Yashaya said of the insurance company. “They know how to get your money.”

The 45-year-old jeweler claims Tocicki subjected him to two days worth of questioning and threatened to make him undergo multiple lie detector tests.

He also claims the insurance company requested tons of “documentation frivolous to the investigation” including proof that Yashaya’s wife works and copies of the couple’s personal credit and debit card statements.

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The missing bling included a 10.64-carat diamond worth $140,000, a 12.83-carat rock worth $323,000, an 8.19-carat diamond, a 9.46-carat diamond and a pair of earrings valued at $135,000.

Yashaya claims he didn’t have any invoices for the pieces because his paperwork was destroyed in a flood.

Yashaya, who has run the Midtown booth since 1998 and has no criminal history, is suing the insurance company for breach of contract and is seeking $2 million in damages.

But for now, he says the issue has discouraged any new insurance companies from covering him.

“My business is dead right now,” Yashaya said.

2 thoughts on “Non-documented (floods) Diamonds are “Thrown Out” and the Guy wants Insurance? –

  1. LOL!!!!!
    He accidentally threw out the ‘stones’ and then the ‘invoices’ were destroyed in a flood.
    Sounds completely plausible. Why would anyone suspect?
    Dammed anti-semitic Insurance Companies!!!]
    Asking an honest man to confirm a perfectly reasonable claim!!

    Another example of the real God of these people,

  2. …’ accidentally thrown out ‘… Not credible to the Insurance Co .
    Yashaya should have given a different excuse . He is prob a pathological repetitive liar and he must have too many claims with his Insurance . After a while, the Insurance does not believe him , AND HIS PREMIUM RISES SKY HIGH .

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