Menu Click here
website logo
Sign In| Sign Up
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
Diamond trading
Search for Diamonds Manage Listings IDEX Onsite
diamond prices
Real Time Prices Diamond Index Price Report
news & research
Newsroom IDEX Research Memo Search News & Archives RSS Feeds
back back
MY IDEX
My Bids & Asks My Purchases My Sales Manage Listings IDEX Onsite Company Information Branches Information Personal Information
Logout
Newsroom Full Article

Fraudster Switches $2,000 Lab Grown for $545,000 Natural Diamond

July 01, 24 by John Jeffay

(IDEX Online) - Police in Surat, India, are investigating an alleged switch, in which a "buyer" replaced a 10.08-carat natural diamond, valued at $545,000, with a near-worthless lab grown replica.

The "buyer" examined the heart-shaped D / VVS2 stone and its GIA certificate, agreed terms and put down a $12,000 down payment to secure the purchase.

He left, saying he needed to withdraw money - and has not been seen since.

The owner of the diamond soon realized he'd been left with a lab grown replica of identical shape, color and weight, but worth less than $2,000.

Police say they are pursuing the "buyer" and at least two accomplices, according to a report in the Economic Times.

Generic pic of heart-shaped diamond.

Diamond Index
Related Articles

Newsletter

The Newsletter offers a quick summary of the past week's industry news and full articles.
Our Services About IDEX Privacy & Security Terms & Conditions Sign-Up Advertise on IDEX Industry Links Contact Us
IDEX on Facebook IDEX on LinkedIn IDEX on Twitter