Synthetic Diamonds

Industry is all abuzz over the synthetic diamonds submitted to the IGI for certification. Hundreds of man- made diamonds were sold as natural to a diamond dealer, who subsequently took them to IGI for certification. Reports say the diamonds were grown and cut to defraud and the dealer in question could not distinguish them from natural. IGI, De Beers, The World Diamond Federation and the Diamond Bourses have all warned industry of the possibility of parcels already salted with these goods. Conspiracy theories are out there which present the theory that laboratories have a lot to gain by promoting the fear of man-made diamonds in the market place and because these laboratories have so much to gain by pushing the fear of synthetics…..that maybe they had something to do with the hype… but I don’t really want to go in that direction! However, it would seem like quite a simple operation to track invoiced man-made diamonds back to their source, so I don’t quite understand why this tracking has not been made public since the discovery was made over a month ago! My sources tell me that these diamonds most likely originated in India and were sold in New York. All this being as it may, I can’t understand why no law enforcement agencies have been called in to investigate! I am constantly surprised by the lack of transparency in our diamond industry and this leads everyone to suspect ulterior motives?

Let’s go back seven years, to the GIA bribery scandal. Several employees were fired and several diamond companies implicated and still I haven’t heard, after all these years, any names of the companies involved or any punitive measures taken by the legal system or the diamond community. It appears that the perpetrators of “certifigate” have escaped without being detection or prosecuted. Further, we are yet to hear any names in last month’s HRD bribery scandal but I have been told that one company has been expelled from the Belgium Diamond Bourse. I don’t know the name of that company and it is apparently an internal Bourse matter. I understand that you are innocent until proven guilty but in the legal system we know the names of people accused of a crime, so what makes the diamond business an exception to this rule? Is it any wonder that people become skeptical when confronted with an information blockade?

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