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"It's not an engagement ring," a source close to the Oscar winner tells PEOPLE. As for reports suggesting that the ring, designed by Amrapali, was a gift from boyfriend Gabriel Aubry, "Halle just saw it and thought it was beautiful so she bought it for herself."
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JOSH & FERGIE: ROCKED BY SCANDAL
Did he cheat with a stripper?
Married less than a year, the couple denies an Atlanta woman’s claims that she and Josh had a fling
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