A GIANT ruby once thought to be valued at £11m and used to support the firm behind the St George’s Square project has been sold – for £8,010.
The “Gem of Tanzania” was entered as one of Wrekin Construction’s assets in 2007 to help prop up its balance sheet.
The firm went into administration in 2009 when the Royal Bank of Scotland withdrew its services – halfway through the £4m contract to revamp Huddersfield’s historic St George’s Square.
It then emerged the stone’s valuation had been forged.
It has been sold to Pertemps Investments Ltd following a private auction.
Administrator Ernst & Young said it had more than 60 offers.
Wrekin Construction managing director David Unwin claimed he had been the victim of a third party valuation fraud.
He said: “I believed it to be worth a lot more when I bought it.”