U.S. Court Awards Forest Diamonds $750,000
February 27, 08
A U.S. District Court has approved a confession of judgment executed by Aminov Diamonds, LLC., for $ 750,000 in favor of Forest Diamonds. Aminov will also cease to do business under the name “Aminov Diamonds LLC” or any derivation of the name “Aminov” in the diamond or jewelry industry.
Aminov will not use or disclose Forest’s customer list and is also to transfer two phone numbers to Forest. The numbers are one digit different from Forest’s phone and fax numbers.
Details of the court judgment and other related documents were published by Forest.
According to the documents, Aminov Diamonds LLC’s principal Yehuda Aminov, filed for personal bankruptcy.
“This lawsuit was filed with a hope to accomplish three goals: protect our good name, protect our assets and of course, to receive compensation for the damages caused to our business,” Isaac Aminov, former co-owner of Forest Diamonds, said. “Considering the circumstances, I sincerely believe that the consent judgment we received is a big step toward accomplishing those goals. On a personal level, I get no satisfaction in knowing that my nephew (Yehuda Aminov), whom I have helped and trusted, had to be sued. With all that being said, I am happy to know that this chapter has ended.”
Joseph Totayev, president and owner of Forest Diamonds, said he is pleased about the judgment.