Wyatt Koch heir sues ex-fiancee to get back $250,000 ring

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Wyatt Koch, 31, is demanding that Ivie Gabrielle Slocumb, 29, return the 8.24-carat diamond ring after she called off their engagement in May
Ring is an Oscar Heyman cushion cut diamond with two tapered baguette diamonds for $180,000 in March
Lawsuit states the ring 'was a conditional gift' and that he's asked his ex to return it on several occasions
His lawyers say the jewelry is now worth $250,000 and he is also asking for $15,000 in damages

Published: 00:33 EST, 20 December 2017 | Updated: 13:20 EST, 20 December 2017

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The son of billionaire Bill Koch is suing his ex-fiancée to get back the $250,000 engagement ring her gave her, following their break up.

Wyatt Koch, 31, is demanding that Ivie Gabrielle Slocumb, 29, return the 8.24-carat diamond ring after she called off their engagement in May.

According to court documents, Koch bought the ring is an Oscar Heyman cushion cut diamond with two tapered baguette diamonds for $180,000 in March, Page Six reports.

The son of billionaire Bill Koch, Wyatt, is suing ex-fiancée Ivie Gabrielle Slocumb to get back the $250,000 engagement ring her gave her

His lawyers now argue the jewelry is worth $250,000, while Koch is also demanding $15,000 in damages.

Koch, the CEO of his own Palm Beach fashion line, Wyatt Ingraham, 'demanded the return of the ring... on multiple occasions' arguing in court papers that Slocumb 'received the ring as a conditional gift.

'She refuses to return it despite proper demand and the condition not being fulfilled.'

The suit also refers to a $7,750 'platinum diamond pendant' with 56 round diamonds, although does not demand its return.

According to court documents, Koch bought the ring is an Oscar Heyman cushion cut diamond with two tapered baguette diamonds for $180,000 in March (a stock image of an Oscar Heyman cut)

Koch, the CEO of his own Palm Beach fashion line, Wyatt Ingraham, 'demanded the return of the ring... on multiple occasions'

Wyatt is the son of industrialist Bill Koch (pictured together in 1992) the forgotten Koch brother of Charles and David's twin

Slocumb has until January 2 to respond to the suit.

Wyatt Koch is known as a bit of a character in Florida where the red haired entrepreneur has set up his clothing line specializing in 'out there' styles.

He is the son of industrialist Bill Koch, the forgotten Koch brother of Charles and David's twin.

Bill Koch, 77, whose net worth is about 1.7 billion, according to Forbes, worked with his brothers at Koch Industries in the 1970s but argued with the pair and, following an unsuccessful coup, was fired.

In 1983, Bill Koch and his oldest brother, Freddie, sold their interests for $470 million and $320 million, respectively.

Koch Industries has since gone onto become America's second biggest private company with a $100billion revenue - propelling Charles and David into joint 8th and 9th places on the Forbes' richest billionaires.