$48,000 ring recovered; Woman gives it back after engagement ends

NAPERVILLE - It's better to have loved and lost -- unless thewoman keeps your $48,000 engagement ring and threatens to sell it.And that's just what the former fiancee of businessman RichardPhebus did, his attorney said.

Now, after having to go to court, he has the ring back.

Phebus popped the question to 43-year-old Renee Mingilino inDecember and presented her with a 5.03 carat, center pear-shapeddiamond engagement ring. The ring's value was appraised at a cool$48,000.

But the love affair soured soon after and, by February, theNaperville couple was meeting with a counselor in hopes of savingtheir rocky relationship, court papers indicate. The …