The Moussaieff Red was discovered in the 1990s by a Brazilian farmer in the Abaetezinho river in 1990, in a region known as Alto Paranaiba. The rough stone weighed 13. 9 carats (2. 78 g). The diamond was purchased and cut by the William Goldberg Diamond Corp. , where it went by its original name, the Red Shield. It was purchased in 2001 or 2002 by Shlomo Moussaieff, an Israeli-born jewelry dealer in London, and is currently owned by Moussaieff Jewellers Ltd.