The Associated Press November 9, 2010, 2:21PM ET

CINCINNATI

http://www.businessweek.com/ap/financialnews/D9JCPUIG0.htm

The government has won ownership rights to a 43-carat diamond worth up to $20 million that was seized in a money laundering investigation in Ohio.

A federal appeals court in Cincinnati sided Monday with a trial judge in granting the government ownership of the diamond once owned by Paul Monea of Alliance, near Canton.

He was convicted of money laundering and the government seized the one-inch tall diamond. Federal officials plan to auction it and give the proceeds to law-enforcement agencies involved in the investigation.

Ownership claims came from Monea's children, a New York minister and a California business owner.

Monea's attorney, Thomas Houlihan, declined comment Tuesday. Monea became rich distributing Tae Bo fitness tapes.