Local reports have suggested the rough ruby with greenish and dark-purple hues could fetch up to $120 million.
Moscow-based Israeli businessman Lev Leviev denies any allegations of smuggling, money laundering and tax offenses.
They are displayed in a diamond-shaped glass case on the top floor of the palatial Burj Al Arab hotel: a pair of golden pumps made of golden leather decorated with more than 100 carats of flawless diamonds set on white gold.
The 102.34-carat gem is expected to fetch a world record price in a private auction sale at Sotheby's in London.
The round, brilliant white diamond is the only stone over 100 carats to have been given the highest grades in every criteria by the Gemological Institute of America.
Three suspects were quickly arrested near the chic Place Vendome in central Paris, but at least two others got away, a police official said. Some of the jewellery has been recovered.
Locals from Koryardu village in Kono district in which the 709-carat diamond was found are hoping some of the funds generated from its sale will help the village's infrastructure.
The 163.41-carat flawless D colour diamond, suspended from an emerald and diamond necklace called The Art of Grisogono sold for $33.8 million at the Christie’s autumn jewel auction.
The huge, traditional round-cut diamond, whose 2.5 cm diameter is equal in size to the visible part of a human eye, bears the same name as the entire Dynasty collection.
Canada's Lucara Diamond Corp will have to cut its tennis ball-sized rough diamond to find a buyer, industry insiders say, following Sotheby's failed auction for the world's largest uncut stone last summer.
The diamond failed to attract the kind of attention the African country had hoped for. It will now be auctioned in Belgium in a bid for a better price.
The "Pink Star" is a 59.60-carat largest pink diamond ever graded by the Gemological Institute of America.
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