RAPAPORT… DiMeo Sentenced to Life For Killing Jewelers Tim and Kim Donnelly
Christopher DiMeo, 29, was sentenced to life in prison without the possibility of release for the 2005 murder of Tim and Kim Donnelly in their Fairfield, Connecticut jewelry store. The term will run consecutively with the life term DiMeo is serving for the murder of Long Island jeweler Thomas Renison.
The Connecticut Post reported that at sentencing, DiMeo apologized to the Donnelly family, including Eric and Tara Donnelly, the children of the victims. “I’m sorry for the pain I’ve created. This is nobody’s fault but mine,” said DiMeo, who promised not to appeal his conviction. “After seven years, it was good to hear an apology,” said Eric Donnelly.
—Additional reporting by Acquire Media.
Payment For BaselWorld Theft Approved
An Israeli exhibitor was compensated for the approximately $10 million worth of diamonds that were stolen at the BaselWorld show in March. Within a week after the incident, Malca-Amit Global Ltd. and its subsidiary insurance broker, MIRA, had completed an investigation and obtained underwriters’ approval for payment of the insurance claim in full.
The increase in professional criminal groups targeting jewelry trade shows is of growing concern to both show organizers and exhibitors alike. “Never before in the diamond and jewelry industry has there been such a quick settlement of a claim of this magnitude,” noted Nigel Paxman, chief executive officer (CEO) of Malca-Amit Global Ltd.
FBI Busts ‘Grab and Go’ Jewelry Theft Ring
The FBI busted a nationwide “grab and go” jewelry theft ring suspected of having grabbed $1.2 million worth of luxury watches and diamond rings — including some that were yanked off employees’ fingers during the heists, according to unsealed court documents from the U.S. District Court in Detroit.
The Detroit Free Press reported that the metro Detroit-based operation hit 45 stores in 22 states and routed the stolen goods through Michigan. Three pawnshops were primarily used to fence the jewelry.
The FBI arrested 19 Michigan residents through monitored jail calls and GPS tracking units on vehicles involved in the thefts. —Additional reporting by Acquire Media.
Diamond Investment Ponzi Scheme Operator Gets Ten Years
The United States Attorney’s Office for the District of Connecticut announced that Michael Goldberg, 40, was sentenced to federal prison for operating a $100 million diamond-related Ponzi scheme. Goldberg is to serve ten years in prison, followed by three years of supervised release for operating a scheme that defrauded investors of more than $30 million over a 12-year period. He was also ordered to pay restitution of $31,023,035.40.
From approximately 1997 to November 2009, Goldberg operated two different schemes. First, Goldberg solicited individuals to invest money in “diamond contracts” with which he could purchase diamonds at extremely low prices from vendors in New York City and then resell them immediately at a substantial profit. Goldberg told investors they would receive a 20 percent to 25 percent return on investment every 60 to 90 days.
However, the vast majority of the fraud involved soliciting investors in the purchase of distressed assets from JP Morgan Chase Bank. Goldberg falsely claimed that Chase had granted him a contractual right to purchase foreclosed and seized business assets, which he would then resell in prearranged transactions to large, well-known corporations. Goldberg claimed he could pay investors a return on capital of up to 20 percent in a short period of time, typically 90 days. Goldberg is also involved in two Chapter 7 bankruptcy proceedings that are currently pending in the U.S. Bankruptcy Court in Hartford. Goldberg was released on a $1 million bond and ordered to report to a facility to be designated by the Federal Bureau of Prisons on July 18, 2011.
