DJ Khaled has one less thing to worry about as the year-long court battle with a jeweler has been dropped.
According to court documents obtained by The Blast, Khaled and Rafaello & Company reached a deal to end their dueling lawsuits. Per their deal, all claims against the other will be dismissed and the case will officially be closed.
Khaled had been involved in the lawsuit with Rafaello & Company since 2015.
The company originally sued him for $100k+ claiming he never returned two Rolex watches, a custom-made diamond chain, a pair of diamond earrings, and a 4-carat diamond ring.
Rafaello had claimed they gave Khaled the pieces with the understanding that he had to either return them in 15 days or pay for them — and they claim he did neither.
But in 2016, Khaled counter-sued the jewelers and claimed they had been overcharging for pieces for years. He says that over a period of six years, he purchased numerous items of personal property for himself and as gifts for friends which he now believes were grossly overpriced
Earlier this year, Khaled filed docs in which he claimed the jeweler actually conspired with an appraiser to commit fraud.
Khaled claims Rafaello provided him with appraisals from The American Board of Certified Gemologists (ABCG). But Khaled claims ABCG is not certified by anyone and has been "illegally representing itself as a 'certified board,' which it was not."
He said that ABCG's valuations "are all extraordinarily inflated so as to convince a purchaser that it was a great buy of a piece of jewelry from a jewelry company as if they are buying apparently for less than half the cost of the appraisal."
For example, Khaled claimed he bought a chain for $110,000 and was presented an appraisal certificate for $240,000, which he claims was "false and fraudulent."
Khaled alleged that Rafaello and ABCG conspired together "to sell jewelry at a much higher price by falsely representing the quality and value" of the jewelry.