I went through the support desk which seemed to get the fastest response on an item restore request for my phail of fantasia. That was done Tuesday, got a response the next day saying they are looking into it and a GM will contact me to have the item restored. Nothing yet, so I wrote them back yesterday and the reply is that my claim is still being investigated.

Granted they are probably busy refunding peoples gil that was stolen with the market hack, but it may take awhile for your friend to get his ring back.