22 June 2017
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Diamond Intelligence Briefing – Issue 891: In U.S. Court: Whistleblower Accuses PGD of Money Laundering and Tax Evasion
In this issue: A former Chief Operating Officer of Pure Grown Diamonds (PGD) filed a “whistleblower” lawsuit in the Superior Court of Middlesex, New Jersey, accusing their director Suraj Mehta and PGD of money laundering and tax evasion. DIB takes a look at the respective claims and denials.
Diamond Intelligence Briefing - Issue 889-890: Pure Grown Diamonds: Quo Vadis?
In this issue: India’s Central Bureau of Investigations (CBI), after years of investigations, indicted Jatin Mehta, his Su-Raj Diamonds and Jewellery Ltd. (renamed Winsome Diamond and Jewelry Ltd.), and a subsidiary in six separate criminal cases alleging a conspiracy to defraud banks.
In this issu
Purchase From Mine to Mistress for the Reduced Price of $175!
Purchase From Mine to Mistress – Corporate Strategies and Government Policies in the International Diamond Industry. Click here to order your copy for just $175!
VIEWS
DIB 891: IN U.S. COURT: WHISTLEBLOWER ACCUSES PGD OF MONEY LAUNDERING AND TAX EVASION
In this issue: A former Chief Operating Officer of Pure Grown Diamonds (PGD) filed a “whistleblower” lawsuit in the Superior Court of Middlesex, New Jersey, accusing their director Sura...
DIB 889-890: PURE GROWN DIAMONDS: QUO VADIS?
In this issue: India’s Central Bureau of Investigations (CBI), after years of investigations, indicted Jatin Mehta, his Su-Raj Diamonds and Jewellery Ltd. (renamed Winsome Diamond and J...
DIB 888: DE BEERS DIAMOND JEWELLERS: A COMMERCIAL DISASTER GETTING A SECOND CHANCE
In this issue: The recent cancellation of the joint venture with LVMH through the acquisition by De Beers of its partner’s 50% is, from an industry perspective, a brilliant and long ove...
DIB 887: TACY’S 2016 DIAMOND PIPELINE - SURVIVAL IN THE ABSENCE OF GROWTH
In this issue: The 2016 Diamond Industry Pipeline
DIB 886: THE RJC’S STERLING IMBROGLIO: PRESERVING ITS MEMBERSHIP CERTIFICATION VALUE
In this issue: Sterling Jewelers made headlines this week when various news media published selected details of an ongoing arbitration case involving claims of gender-based discriminati...
DIB 885: AMERICA’S PHANTOM KP AUTHORITY
In this issue: The United States Kimberley Process Authority Institute – the official name of the entity we know as the United States KP Authority (USKPA), doesn’t “really exist.” The c...
DIB 883: THE ECONOMICS OF LAB-GROWN GEM DIAMOND ‘MINING’
In this issue: The rise of gem-quality lab-grown diamonds (LGD) continues, with natural and LGD producers vying for market share. DIB looks at the “synthetic mining costs” and the produ...
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NEWS
DATE FOR NEXT ANTWERP DIAMOND TRADE FAIR: JANUARY 28-30, 2018
The 9th Antwerp Diamond Trade Fair – BrilliAnt – is scheduled to take place from January 28-30, 2018, and will be one of the highlights of the Antwerp Diamond Year Celebrations taking p...
DDI OFFERS ROUGH DIAMOND VALUATION COURSE TO REPRESENTATIVES OF DIAMOND-PRODUCING COUNTRIES
The Diamond Development Initiative (DDI) reports that, together with the Antwerp World Diamond Centre (AWDC), they are offering a two-week course in rough diamond valuation to represent...
LATEST SALE OF LULO DIAMONDS AVERAGE $770 PER CARAT
Lucapa Diamond Company Limited (Lucapa) reports that the latest sale of alluvial diamonds from the Lulo Diamond Project in Angola (the fifth in 2017) achieved gross sale proceeds of US$...
DE BEERS’ ROUGH DIAMOND SALES – 2017 CYCLE 5: $530M
The De Beers Group of Companies has published the provisional results of the fifth sales cycle of 2017 of De Beers' rough diamond sales, which totaled US$530 million.
SURAT DIAMOND CENTRE SHUTS DOWN TO PROTEST NEW GST REGIME
Diamond brokers and diamond merchants in Surat, India, shut down their businesses on Saturday, June 17th in protest at the new Goods and Services Tax (GST) regime set to come into force...
DEBMARINE NAMIBIA INAUGURATES ADVANCED OFFSHORE DIAMOND EXPLORATION VESSEL
De Beers has announced the inauguration of a new diamond exploration and sampling vessel in Walvis Bay, Namibia, following five months of successful sea trials.
SDIX TO TRIAL BLOCKCHAIN FOR DIAMOND TRADING
The Singapore Diamond Investment Exchange (SDiX) has announced that it has entered into partnership with Kynetix and Everledger to complete the first part of a Proof-Of-Concept of a blo...
47 ISRAELI COMPANIES EXHIBITING AT ISRAEL DIAMOND PAVILION IN JUNE HK FAIR
The Israel Diamond Institute Group of Companies (IDI) has announced that it expects to host 47 companies this year in its diamond pavilion at the June Hong Kong Jewellery & Gem Fair, wh...
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DIAMOND INTELLIGENCE BRIEFS
DIAMOND INTELLIGENCE BRIEFING – ISSUE 891
In this issue: A former Chief Operating Officer of Pure Grown Diamonds (PGD) filed a “whistleblower” lawsuit in the Superior Court of Middlesex, New Jersey, accusing their director Sura...
DIAMOND INTELLIGENCE BRIEFING – ISSUE 889-890
In this issue: India’s Central Bureau of Investigations (CBI), after years of investigations, indicted Jatin Mehta, his Su-Raj Diamonds and Jewellery Ltd. (renamed Winsome Diamond and J...
DIAMOND INTELLIGENCE BRIEFING – ISSUE 888
In this issue: The recent cancellation of the joint venture with LVMH through the acquisition by De Beers of its partner’s 50% is, from an industry perspective, a brilliant and long ove...
DIAMOND INTELLIGENCE BRIEFING - ISSUE 887
In this issue: The 2016 Diamond Industry Pipeline
DIAMOND INTELLIGENCE BRIEFING - ISSUE 886
In this issue: Sterling Jewelers made headlines this week when various news media published selected details of an ongoing arbitration case involving claims of gender-based discriminati...
DIAMOND INTELLIGENCE BRIEFING - ISSUE 885
In this issue: The United States Kimberley Process Authority Institute – the official name of the entity we know as the United States KP Authority (USKPA), doesn’t “really exist.” The c...
DIAMOND INTELLIGENCE BRIEFING - ISSUE 884
Inside this issue: With the upcoming political changes in the United States, DIB ponders what a new presidential administration will mean for the U.S. diamond industry. DIB takes an in-...
DIAMOND INTELLIGENCE BRIEFING - ISSUE 883
In this issue: The rise of gem-quality lab-grown diamonds (LGD) continues, with natural and LGD producers vying for market share. DIB looks at the “synthetic mining costs” and the produ...
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more articles
TACY RESEARCH
TACY'S 2015 DIAMOND PIPELINE: 2015: PRODUCERS LOST LEVERAGE OVER CLIENTS – FOREVER…
The 2015 Diamond Industry Pipeline.
TACY'S 2012 DIAMOND PIPELINE: A YEAR OF VOLATILITY, LOSSES AND UNCERTAINTIES
In DIB 753, Chaim Even-Zohar presents Tacy's 2012 Diamond Pipeline, which analyzes a year of volatility, losses and uncertainties. According to Even-Zohar, the market contraction and th...
TACY'S 2010 DIAMOND PIPELINE: YEAR OF REPLENISHMENT, SPECULATION AND RECYCLING
In DIB 654 Chaim Even-Zohar presents the 2010 diamond pipeline and analyzes the factors shaping last year’s growth and recovery. Read about what impacted each level of the pipeline in 2...
TACY'S 2011 DIAMOND PIPELINE: CHASING PAPER PROFITS; RECYCLED DIAMONDS INTEGRAL PART OF SUPPLY CHAIN
In DIB 700, Chaim Even-Zohar presents Tacy's 2011 Diamond Pipeline.
TACY LTD.'S 2009 DIAMOND PIPELINE - YEAR OF PIPELINE DESTOCKING AND RESTRUCTURING
DIB 602 includes Tacy's annual Diamond Pipeline and explains why 2009 was an "aberration" for the industry. Chaim Even-Zohar's analysis shows how and where the economic crisis most impa...
TACY'S ESTIMATES OF 2009 GLOBAL NATURAL DIAMOND PRODUCTION
The 2009 pipeline reflects the most severe single-year contraction of the diamond pipeline since World War II as a result of the economic crisis and the resultant liquidity shortages. ...
2008 DIAMOND PIPELINE: FROM MARKET BUOYANCY TO GLOBAL CREDIT CRISIS, DEFLATION AND RECESSION
The 2008 diamond pipeline reflects the coalescence of two dramatically different periods within a single year: nine months of buoyancy marked by sharply rising rough diamond prices and ...
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RESOURCE LIBRARY
Kimberley Process Mid-Term Report - UAE KP Chair 2016
The United Arab Emirates (UAE) Chair of the Kimberley Process (KP), Ahmed Bin Sulayem has published a comprehensive mid-term report on the activities and progress so far achieved by the...
ALL 13 UAE EXPERT REPORTS
The 13 Expert Reports prepared for the UAE court by court-appointed experts.
ALROSA PUBLISHES GUIDELINES ON RESPONSIBLE BUSINESS PRACTICES
Alrosa's executive committee recently adopted the Alrosa Alliance Guidelines, which forms an integral part of the Alrosa Alliance Logo license agreement and calls on its long-term rough...
PEW RESEARCH CENTER REPORT ON MILLENIALS: A PORTRAIT OF GENERATION NEXT
The Pew Research Center report, which is discussed in Chaim Even-Zohar's editorial in DIB 788 about a growing trend among Millenial consumers toward purchasing synthetic diamonds, desri...
ALROSA RELEASES RESULTS FOR FY 2012
Alrosa releases its investor presentation for the FY 2012, which includes the year's production and financial highights.
OECD DUE DILIGENCE GUIDANCE FOR RESPONSIBLE SUPPLY CHAINS OF MINERALS FROM CONFLICT-AFFECTED AND HIGH-RISK AREAS
The handbook aims to promote a collaborative government-backed, multi-stakeholder approach to responsible supply chain management of minerals from conflict-affacted areas.
DIAMOND SOURCE WARRANTY PROTOCOL
The new Diamond Source Warranty Protocol, launched by the Jewelers of America (JA), the Diamond Manufacturers & Importers Association of America (DMIA), the Jewelers Vigilance Committe...
RJC COMMENTS ON FINAL RULE FOR DODD-FRANK SECTION 1502
The release by the US Security and Exchange Commission (SEC) of the final rule implementing Section 1502 on Conflict Minerals in the Dodd-Frank Wall Street Reform and Consumer Protectio...
DIAVIK MINE ISSUES 2012 MID-YEAR SOCIO-ECONOMIC REPORT
Rio Tinto's wholly owned Diavik Diamond Mines Inc., operator of the Diavik diamond mine in Canada's Northwest Territories, has released its 2012 mid-year socio-economic monitoring repor...
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LEGAL
U.S. DISTRICT JUDGE'S MOTION TO DISMISS LKI'S RICO COMPLAINT AGAINST ADB SEPEMBER 5, 2012
Attached is the reasoning of U.S. Disctirct Judge Andrew Carter's motion on September 5, 2012, to dismiss the RICO suit brought by LKI against ADB.
U.S. SENATE REPORT ON 'U.S. VULNERABILITIES TO MONEY LAUNDERING, DRUGS, AND TERRORIST FINANCING: HSBC CASE HISTORY'
A report by the U.S. Senate's Permanent Subcommittee on Investigations titled U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History.
MICHELLE FAIRHURST'S ANTITRUST CLASS ACTION AGAINST ANGLO AMERICAN AND DE BEERS (AND OTHERS)
In 2007, Michelle Fairhurst of Squamish, British Columbia, filed an antitrust class action lawsuit against Anglo American, De Beers and others alleging that the defendants were engaged ...
LKI VERSUS ANTWERP DIAMOND BANK AND KBC - FULL TEXT OF COMPLAINT
Available for download is the full text of the Lazare Kaplan International complaint against the Antwerp Diamond Bank and KBC.
U.S. APPEALS COURT TO RE-HEAR DE BEERS US$295 MILLION SETTLEMENT CASE
A U.S. appeals court has ordered a re-hearing of the De Beers antitrust settlement case following the filing of an amicus brief by the Diamond Manufacturers & Importers Association of A...
FATF'S INTERPRETIVE NOTE TO SPECIAL RECOMMENDATION IX
To greater understand the objectives and definition of Special Recommendation IX, which the Israeli Tax Authority and the Israeli Diamond Controller of the Ministry of Industry, Trade a...
FATF IX SPECIAL RECOMMENDATIONS
Recognising the vital importance of taking action to combat the financing of terrorism, the FATF has agreed these Special IX Recommendations, which, when combined with the FATF Forty Re...
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FINANCE
BANK OF BOTSWANA TO LEAVE BANK RATE UNCHANGED AT 10%
The Bank of Botswana Monetary Policy Committee has decided to leave the bank rate unchanged at 10 percent for the fourth consecutive time. To read the decision in full, click on the ico...
ALROSA INFORMATION MEMORANDUM
The attached Information Memorandum, dated December 2007, contains information provided by ALROSA Finance S.A. and ALROSA Company Limited in connection with a euro-commercial paper pro...
DIAMANTAIRES THOUGHT TO BE AMONG UBS CLIENTS SUSPECTED OF TAX EVASION
Switzerland's UBS bank has entered into a Deferred Prosecution Agreement with the United States Department of Justice and a Consent Order with the Securities and Exchange Commission (SE...
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PICTURES
INDIAN DIAMOND INDUSTRY HONORS CHAIM EVEN-ZOHAR FOR LIFETIME CONTRIBUTIONS TO INTERNATIONAL DIAMOND INDUSTRY
Industry analyst Chaim Even-Zohar being awarded by the Indian industry for his lifetime contributions to the international diamond industry. From Left to Right: Former chairman of the ...
HARRY OPPENHEIMER AND SIR SERETSE KHAMA AT A MEETING IN GABORONE
This photo shows Harry Oppenheimer and Sir Seretse Khama at a meeting in Gaborone in 1968 to discuss the diamond mining project at Orapa
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