A rare pink diamond that surfaced in 2013 to fetch $ 40million at auction has fueled a feud among relatives of a late Italian senator as his son claims the stone was stolen by a backstabbing step-sibling . Amedeo Angiolillo , who currently lives in New York , filed suit against Christie 's on Friday , alleging the auction house had sold off the 300-year-old , 34.65-carat Indian diamond to an anonymous buyer on behalf of someone other than its rightful owner . Named the Princie Diamond , the pink gem 'is one the rarest , perhaps most famous and illustrious pink diamonds in the world , ' according to the complaint filed in Manhattan supreme court . Scroll down for video . Rare : The Princie Diamond that surfaced in 2013 to fetch $ 40million at auction has fueled a feud among relatives of a late Italian senator as his son claims the stone was stolen by a backstabbing step-sibling . According to Christie 's website , the diamond received the name after being purchased at auction by jewelers Van Cleef & Arpels , who named it in honor of the 14-year-old Prince of Baroda , son of Maharani Sita Devi . The gem had been passed down through generations of Indian rulers before landing in the possession of Mir Osman Ali Khan of Hyderabad , who eventually sold it through Southeby 's . The jewel came into Angiolillo 's family 's possession when his father , Renato Angiolillo , the founder of Italian newspaper Il Tempo , purchased the stone in 1961 , the New York Post reports . Having just wed his second wife , Maria Girani , Renato made a gift of the diamond - one that carried a caveat . Renato 's new bride would 'not have unfettered access to ' her husband 's collection of precious stones , according to the complaint . The arrangement would last up until the newspaper magnate 's death in 1973 , when Amedeo cut a deal with his step-mother that allowed her to continue wearing the diamond , the lawsuit states . Prized possession : The jewel came into Angiolillo 's family 's possession when Renato Angiolillo ( pictured ) , the founder of Italian newspaper Il Tempo , purchased the stone in 1961 . High society : Renato Angiolillo ( right ) had a taste for precious stones , and was reported to have bought the diamond in Paris after losing big at the Monte Carlo casino . The younger Angiolillo agreed to let Girani hold onto the diamond 'because she was quite active and influential in Italian politics and sponsored political , social and business meetings at her home , ' a gift Renato bequeathed her in his will . 'Girani had a good relationship with her husband ’ s children and grandchildren , confirming on several occasions that the gems in her possession , including the Princie Diamond , belonged to them by inheritance , and that they would be returned to them after her death , ' according to documents filed . Yet when Girani , too , passed away in 2009 and her husband 's heirs came looking for the precious stone , they say it was n't among her belongings . Pedigree : The Princie Diamond was once owned by a succession of Indian rulers , the last of which was Mir Osman Ali Khan of Hyderabad , who sold it through Southeby 's . Girani 's son , Marco Bianchi Milella , who had once been friends and even roomed with his step-brother Angiolillo , claimed he never saw the diamond among his mother 's possessions , . Yet Christie 's later told Angiolillo that Milella told them he was the '100 percent beneficial owner of the Princie Diamond , ' according to the lawsuit . However , Christie 's anonymous consignor bought the diamond 'in good faith ' during a closed-door deal in Switzerland , and the auction house refused to stop any sale , in spite of a lawsuit working its way through the courts of southern Italy , the Daily Beast reported . Police even seized other gems that had once been in Renato 's collection at Milella ’ s home in Monte Carlo , which included a ruby necklace he 'd given to his girlfriend , the lawsuit states.. 'New York law provides that once there is a `` thief , '' an involuntary transfer , or if the property is lost in the chain of title , no one can take good title , ' the lawsuit argues against Christie 's claim that a 'valid title ' was provided by a Swiss entity . Angelillo and his nieces and nephews are suing to recover the diamond , which Angelillo claims to have an insurance certificate proving his claim to ownership , along with damages .
Amedeo Angiolillo is suing Christie 's auction house in New York to recover the 'Princie Diamond , ' a 34.65-carat pink diamond he claims was stolen . The gem was mined in India and passed through generations of rulers before being purchased by Angiolillo 's father Renato . Renato gave the diamond to his second wife , Maria Girani , who had it in her possession until her death in 2009 . After she passed away , Angiolillo tried to recover the diamond but Girani 's son Marco Biachi Milella said it had vanished .