By David Schultz
A five-carat diamond ring was auctioned yesterday. It was valued at $40,000 dollars and went for $62,500.
Why is this notable? U.S. Marshalls seized the ring from Harriet Walters, the former city employee who plead guilty to stealing more than $48 million from D.C.'s tax coffers.
Walters used that money to buy cars, furniture, designer hand bags, and, yes, a diamond ring. She was arrested in 2007, putting an end to the district's largest embezzlement scheme ever. Through the auctioning of Walters' possessions, the city is recovering some, but not all, of the money she stole.
Walters is now serving a 17.5 year sentence in federal prison. She's joined by many of her friends and former coworkers who benefited from her largess.