I read the story about this guy and was he just involved in bad business deals? That is the "just" I got out of it. Anyway, if that's the case it's too bad he is losing this ring over it. One should not lose such a prized possession even if they are bankrupt/broke.
On the other hand, was he into drugs, alcohol, etc? If this is the case I don't feel sorry for him one bit.
kneifl