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All industry members should operate their businesses prudently

Venus Jewel calls themselves ‘Leaders in Solitaires’ and rightly so, given that they are one of the leading Indian companies dealing in solitaires. Rajesh Shah, Partner at Venus Jewel, takes great pride in the fact that the company has 20 years of leadership...

04 may 2016

Diamonds performing ‘a little bit better’ than most commodities – Deloitte analyst

Liquidity crunch and a sluggish Chinese economic growth, inter-alia, dampened the appetite for rough diamonds last year. Mining analyst and partner at Deloitte Tony Zoghby told Rough & Polished’s Mathew Nyaungwa that despite the depression, diamonds...

25 april 2016

“If consumers lose confidence in diamonds, both the products, natural and synthetic, will be badly hit,” warns Sanjay Kothari, Spokesperson NDMC

For a sector, which grew from just a cottage industry to one of the largest diamond manufacturing industry in the world, India’s diamond industry was, till not long ago, looked at globally with awe as an industry which operated purely on trust. Today...

18 april 2016

Valery Budny: "I really believe in Russian entrepreneurs"

Being a media holding in the field of jewelry and watch industry and trade, RESTEC JUNWEX combines such activities as holding exhibitions and conferences, publishing magazines, operating Internet resources and providing consulting services. It runs Russia’s...

11 april 2016

Ghanaian firm seeks to resuscitate Akwatia diamond mine

Great Consolidated Diamonds (GCD), formerly known as Ghana Consolidated Diamonds, is the West African country’s only commercial diamond company. It owns the Akwatia diamond mine, which produced more than 100-million carats of diamonds since the inception...

04 april 2016

Investigation of diamond fraud in Belgium

06 august 2013

Antwerp authorities recently announced a breakthrough in the investigation of a tiger kidnapping that took place on October 11, 2012 in Antwerp. At that time, three men entered the home of an employee of the Indian diamond company KIRAN BVBA. While the man's wife was kept hostage, he was forced to return to work and empty the vaults of the KIRAN offices in the Hoveniersstraat in the Antwerp diamond district. The total value of the stolen diamonds was estimated at $13 million.
Police investigations now indicate the tiger kidnapping could be staged by the alleged victim, the employee of KIRAN. The authorities believe the man was aided by a middle-man of Indian origin, who in turn hired an Armenian accomplice to execute the tiger kidnapping. The Armenian accomplice collaborated with two Chechen men.
Between July 22 and 29,  five people were arrested in connection with their alleged involvement in the case, the prime suspect - an employee at KIRAN, a man of Indian origin and three plan executors, an Armenian and two Chechens.
Four of them are in custody and are said to have confessed to involvement in the case.
The alleged middle-man of Indian origin was arrested at the Dutch airport Schiphol on July 30. Procedures to extradite the man to Belgium are currently ongoing.
Most of the stolen goods, estimated at a value of $8.7 million, were recovered during a recent raid in Antwerp.

Alex Shishlo, Editor in Chief of the European Bureau, Rough&Polished

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