A Hong Kong billionaire has spent $118 million on two diamonds as a gift for his seven-year-old daughter - and named them after her.
The day after spending nearly $44 million on a 16-carat pink diamond which he named The Sweet Josephine, property tycoon and convicted money launderer Joseph Lau smashed the world record by paying $74.4 million for the flawless 12-carat The Blue Moon Diamond, which he renamed The Blue Moon Josephine.
In November last year, Lau spent $87 million on two gems for daughter Zoe, 13.
A Macau court last year sentenced Lau to five years in prison for money laundering and bribery, but he has remained free by avoiding travel to the former Portuguese colony, which does not have an extradition treaty with nearby Hong Kong.
