According to the Gemological Institute of America announcement, the diamonds were temporarily improved by three grades.
The Gemological Institute of America (GIA ) has published a recall for 424 diamonds on suspicion of a fraud involving Israelis.
According to the GIA announcement, the diamonds were temporarily improved by three grades. The numbers of the diamonds and the suspects' names are available on the GIA website.
Companies listed as suspects include LYE Diamonds and E.G.S.D. Diamonds.
Correction: In a previous version of this article, "Globes" mistakenly referred to the Rapaport Group and RapNet. The Rapaport Group and RapNet were not involved in any fraudulent activity as implied by the article. The Rapaport Group operates GIA’s LabDirect Service in Israel and along with RapNet is actively engaged in exposing and combating fraud in the diamond trade. "Globes" apologizes for the error.
Published by Globes [online], Israel business news - www.globes-online.com - on May 13, 2015
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