Category: Legal

Scam Jam: Fraud, Fakes and Other Industry Misdemeanors of 2024 

From synthetics submitted to labs as natural, to stolen diamonds, security breaches and stone swapping, there was a lot to watch out for this year.

US Sanctions Diamond and Jewelry Companies Involved in Gold Smuggling 

Businesses tied to Kamlesh Pattni, some of which operate in Dubai’s DMCC, are included in list.

Luxury Jewelry Worker Sentenced for Theft of over $1.7M

Manufacturing supervisor took gold, silver and platinum from employer, says US Attorney’s Office.

EU Adds Key Exemptions to Russian Diamond Sanctions

Bloc extends “sunrise period” by six months, introduces “grandfathering” clause.

US Jewelry Industry Meets with Washington Officials over Sanctions

Single import channel in Belgium would cause harm, trade leaders argue.

De Beers Urges One-Year Extension to G7 ‘Sunrise Period’

Sanctions must be “practical, industry-wide and enforceable,” miner argues. 

EU to Exempt Pre-2024 Diamonds from Russia Sanctions – Report

Proposal for “grandfathered” goods reaches EU envoys, according to Reuters.

Podcast: Russia, Sanctions and the Diamond Market

Industry consultant Robert Wake-Walker analyzes what we know and what we don’t about the G7 rules.

Hong Kong Busts $64M Diamond Scam

Money-laundering syndicate exported low-value synthetics to India but declared them as high-value naturals.

Bans on Russian Diamonds Take Shape

US and European Union outline plans for sanctions, but details lacking.

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