TMZ is reporting that rapper Gucci Mane, real name Radric Davis, lost $270,000 in a lawsuit filed by a Georgia based jewelry company. The company sued the rapper for stealing diamonds.

A&A Diamonds filed a lawsuit against the rapper in Henry County, GA claiming they had loaned Gucci Mane a $130,000 pinky ring, and a diamond necklace and bracelet that totaled $110,000.

The lawsuit stated that Gucci had 15 days to pay for the jewelry or return it, and he did neither. He only paid the company $40,000 of the money they claim he owed.

A&A Diamonds sued for $274,523.34. That covered $200,000 for the jewelry in addition to attorney and interest fees.

Gucci Mane never showed up in court, which resulted in a default judgement against him in April, along with a lien on his property.

The rapper and his camp have yet to respond to the action.

Recently, the Atlanta-based rapper released his new mixtape, I'm Up, which features a star studded line-up that includes Rick Ross, Lil Wayne, Chris Brown, Big Sean, Fabolous. T.I. and scarface. Ironically, Scarface appears on a song on the tape called Scarface, which looks into Gucci's face tattoo.

- By Layne Weiss