Alrosa set to Sell More Rough to Government
March 09, 25
The Russian government could buy more rough diamonds from the state-run miner Alrosa, as it faces ongoing G7 sanctions and weak global demand. The Finance Ministry says it will assess the situation after seeing second quarter results.... Read More...
Natural and Lab Grown: Jewelers of America's New Guide
March 08, 25Jewelers of America (JA) is educating customers about the differences between natural and lab grown diamonds with the launch of a brochure for stores. It is entitled Counter Intelligence: Just the Facts about Natural & Lab-Grown Diamonds.... Read More...
Jewelry Company Pays $1.9m over Pyramid Sales Claims
March 07, 25Paparazzi Accessories, the multilevel marketing (MLM) company that sells $5 fashion jewelry items, is to pay $1.9m to avoid legal action over pyramid selling allegations. The money will be distributed to over 7,000 people who sold their goods... Read More...
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NY Dealer Admits $460,000 Lab Grown Fraud
March 07, 25A dealer from New York City's Diamond District has pleaded guilty to defrauding two merchants out of $460,000 by switching their natural stones for lab grown replicas. Manashe Sezanayev, 41, who owned Rachel's Diamonds, on 47th Street.... Read More...
Lucapa Loss Narrows to $1.5m
March 06, 25Lucapa reported a $1.5m loss for 2024, an improvement on its $17.2m loss the previous year, but it cautioned that future profitability depended on the market picking up. Rough diamond sales were almost halved, from $102.2m in 2003 to $54.2m as ... Read More...
Memo by John Jeffay
March 06It's hard to swallow. In fact most of us would probably choke trying to down over 13 carats of Tiffany's finest diamonds. But that, allegedly, is how Jaythan Lawrence Gilder, aged 32, responded when cops in the US finally caught up with him last... Read More...