So, what鈥檚 the truth behind the Wrekin ruby?

In case you havent heard, it's the 拢11m gemstone owner David Unwin junior used to shore up the balance sheet of the Shropshire based civil engineering specialist before it went under last week.

Wrekin鈥檚 last company accounts claim it was valued at 拢11m by the Istituto Gemmologico Italiano in Valenza on 31 August 2007.

Its existence still has to be verified by administrator Ernst & Young, which is presumably keen to get its hands on the sparkler.

The following transcript of a conversation with Loredana Prosperi, a bemused doctor at the aforementioned Italian establishment, shouldn鈥檛 fill the accountant with massive hope.

The gist: Ruby, what ruby?

LP: As I explained, our institute is an education institute and we have a laboratory and we give certifications not valuations. Also as I explained already on 31 August 2007 we were closed for one month鈥檚 holiday.

精东影视: Did you ever see the ruby?

LP: I don鈥檛 remember a ruby as important as that and I would remember.

精东影视: So you didn鈥檛 receive it?

LP: No. We never received a ruby from that company. It鈥檚 a very strange thing. I had no contact with that company. I heard their name for the first time yesterday.

精东影视: So the news was a surprise to you?

LP: Yes, a very big surprise, although it is good publicity for us.

精东影视: Have you ever had contact with David Unwin or any of his companies?

LP: No.

精东影视: What was the last English company you worked for?

LP: We have never worked for an English company. Our customers are from Italy, Switzerland and Greece. In London you have very good places to value gemstones, so why use us? This is very strange for me. If they have a certificate they can give us the number and we can check with our records but there is nothing in the database.

精东影视: Does the Valenza office issue certificates?

LP: No. It only has teaching facilities no laboratory.

Not looking good, is it?