Nello Balan is being sued for allegedly failing to pay Chopard for $50,000 diamond earrings he says he bought for Britain’s Queen Elizabeth. The restaurateur bought the pair of white, gold-hoop earrings inset with an astonishing 146 diamonds in February of last year — but didn’t deliver the dough. Chopard claims in Manhattan Supreme Court that Balan took the gems immediately, but has since paid only $17,500, followed by a series of bounced checks. Chopard — which gave Balan a generous discount — now wants payment for the full retail price of $67,600. Balan, who claims to be a descendant of Vlad the Impaler, told Page Six it was all a “misunderstanding.” He said: “Chopard gave me a large discount, so I believed I had paid the balance.” He added, laughing, “I was going to England so I bought them as a gift for Queen Elizabeth. Unfortunately, I didn’t get to meet her.”