Police Seize GIA Certificates in Surat Diamond Scam
August 17, 21
(IDEX Online) - Police in Surat, India, have seized GIA certificates being used to fraudulently inflate the value of diamonds.
They also confiscated a laser machine used to inscribe inferior stones with bogus GIA numbers and a number of diamonds.
Officers acted after a number of complaints at the city's Mahidharpura diamond market and arrested a man.
"He collected certificates of only high-value diamonds from his known businessmen, then used them with inferior quality diamonds," said police, according to a report in The Times of India.
Reports vary as to how many certificates were seized - either 19 or 24. The goods seized, including diamonds and the laser inscriber, are valued at a total of $15,000. Police have sent the diamonds and the certificates to the GIA
We have approached GIA for comment.
Pic shows the seized GIA certificates