Billionaire’s son sues ex-fiancée to get $250,000 engagement ring back

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Billionaire Bill Koch's son Wyatt is no longer engaged, and he wants the quarter-million dollar ring back from his ex-fiancee.

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Lawyers filed a civil lawsuit on Wyatt Koch’s behalf Tuesday to attempt to force Ivie Gabrielle Slocumb to return the expensive piece of jewelry.

“The ring is wrongfully detained by (Slocumb),” the lawsuit says. “She received the ring as a conditional gift. She refuses to return it despite proper demand and the condition not being fulfilled.”

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Slocumb was the one who broke off the engagement, according to the complaint. Koch demanded the ring back multiple times and she refused, the complaint says.

Koch, a Palm Beach resident and fashion designer, purchased the 8.24 carat diamond ring for $180,000 at Manufacturing Jewelers on Madison Avenue in New York on March 27, 2017, according to an invoice attached to the complaint. An attorney for Koch said the ring was last appraised for $250,000.

Koch declined comment through an attorney. It’s unclear if Slocumb has hired an attorney, and there was no answer at a phone number associated with her.

Wyatt Koch founded the company Wyatt Ingraham LLC — an apparel line for men that caters to an international audience, according to the company’s website. His sense of fashion is bold and he thinks clothing should be a conversation starter, the site says.

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Industrialist Bill Koch is the son of Fred C. Koch, who founded Koch Industries — a multinational company based in Wichita, Kansas. Bill Koch, whose net worth is about 1.7 billion, according to Forbes, is the co-founder of Oxbridge Academy in West Palm Beach.