DMIA continues call for prosecution in 'Certifigate'

Diamonds

Save

E-mail

DMIA continues call for prosecution in 'Certifigate'

By Michelle Graff

March 18, 2008

Similar Stories | Topics

STORIES

JBT seminar at Diamond Club West Coast

GIA welcomes two new governors

Boston Jewelers Club elects Kenyon president

JBT elects board members, directors

JVC, JBT present AML seminar

New York—Leaders of the Diamond Manufacturers and Importers Association of America (DMIA) have again expressed their frustration at the lack of action by prosecutors in the Gemological Institute of America's (GIA) "Certifigate" scandal.

The alleged scandal at the GIA surfaced in 2005 and involved GIA graders taking bribes to upgrade diamonds.

Leaders in the diamond industry have long expressed dismay over the lack of progress in the case, which has become a hot topic again in the diamond community in recent months.

At the DMIA's first meeting of the year held on Monday night in New York City, DMIA President Ronald Friedman read excerpts from a February 2008 letter that DMIA officials sent to prosecuting attorneys in the case. The letter stated, in part, that the DMIA was "shocked and dismayed" at the scandal and remains concerned about the effect the scandal could have on public confidence in diamonds and the diamond industry.

The DMIA letter stated that officials also are concerned that the investigation of the GIA case has been "prioritized" by other investigations.

DMIA leaders "strongly encourage" prosecution of any or all wrongdoing in the case, including those individuals accused of bribery and fraud.

The DMIA "will welcome news of their indictment, arrest, prosecution" for their crimes, the letter stated.

Also at Monday's meeting:

* Dione Kenyon, president of The Jewelers Board of Trade (JBT), gave an update on the JBT's new Memo Reporting Platform, a way for companies that release stones on memo to get real-time information about the current memo status of companies with which they are doing business. Kenyon said a test run is expected in the second half of 2008, and the speed of implementation will depend on industry interest in the program.

* Friedman offered attendees the opportunity to speak out about the recent changes to the Rapaport price list, and said Rapaport Group Chairman Martin Rapaport asked for anyone with feedback about the changes to e-mail him at rap@diamonds.net.

Save

E-mail

Diamonds

GIA Lab offers Holiday Express Service

Carlsbad, Calif.--The Gemological Institute of America (GIA) has announced that the GIA Laboratory will again offer its Holiday Express Service during the holiday season, from Dec. 1-19. Read More

Report: Luxury consumers becoming more discerning

'Unbreakable Kiss' supports AIDS research

More Diamonds

More Like This

JBT seminar at Diamond Club West Coast

June 27, 2008 | National Jeweler Network

GIA welcomes two new governors

September 24, 2007 | National Jeweler Network

Boston Jewelers Club elects Kenyon president

November 13, 2008 | National Jeweler Network

JBT elects board members, directors

April 10, 2008 | National Jeweler Network

JVC, JBT present AML seminar

August 02, 2007 | National Jeweler Network

Video

Retailer Toolbar

LoupeIt!
A search engine designed specifically for the jewelry industry where every return is relevant to the retail jeweler.

Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.

ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.

Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.

Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.

CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.