GIA Breaks Ties with Five Indian Clients over Fraudulent Inscriptions

(IDEX Online News) – The Gemological Institute of America (GIA) has closed accounts with five Indian firms due to suspicion that they had repeatedly submitted stones with pre-existing GIA report numbers that were not connected to the diamonds being submitted for grading.

As reported by Tacy, the GIA sent a letter, signed by GIA’s executive vice president Tom Moses, to the five firms giving them notice that the lab is no longer prepared to accept goods from them.  

“We reasonably suspect that stones submitted under your client account, and other accounts for which we believe you to be partnered, have been (i.) inscribed with pre-existing GIA report numbers that were not issued for the particular stones being submitted and that GIA did not inscribe. This has occurred on a number of occasions, indicating a pattern of intentional conduct," said the letter, as reported by Tacy.

The letter continues to state that as GIA's mission is to ensure the public trust in gems and jewelry by upholding the highest standards of ethics and integrity, the letter serves as notice that GIA is closing the accounts of the companies and will no longer accept any goods from them.

In addition, it states, any stones currently in process of being examined will be returned ungraded.