NYC Dealer acquitted of money-laundering Charge

A jury last week acquitted Roman Nektalov, a New York jeweler whose arrest rocked the New York diamond district when he, his son and another nine people were arrested for alleged involvement in a money-laundering scheme for Colombian drug dealers. Later his son was slain in midtown Manhattan.

The FBI arrested the 11 in June 2003. Federal prosecutors said at the time the suspects shaped gold as ordinary daily objects, such as belt buckles, to smuggle drug profits out to Colombia.

Last Tuesday the jury acquitted Nektalov of conspiracy, money laundering and two additional charges, but was found guilty of a diamond sale charge. 75 year-old Nektalov did not appear in court to hear the verdict, after being hospitalized with heart problems during the trial.

In May Nektalov’s son Eduard, was shot in the back of his head and killed on Sixth Avenue in a mafia style murder hit. The son was also indicted in the money laundering case.

The NYPD does not suspect the murder was related to the Columbian case, but rather suspect it was a Russian organized crime ordered murder.

Police investigators don't believe the unsolved killing stemmed from the money-laundering case. But they say it could have been a hit ordered by the Russian mob.

The money-laundering sting operation netted three convictions and seven guilty pleas.