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Investment community wants and needs more transparency

Yaniv Marcus, Managing Partner, YAD Global Advisors Ltd & Founder, Diamond Investment & Intelligence Centre (DICE) began his career in the investment community as a Certified Financial Planner (CFP) as well as a Portfolio Investment Manager (CIM)...

05 december 2016

Lucara in no rush to sell 1,109 ct diamond after London setback – Lamb

Lucara Diamond said it is not in a hurry to sell the 1, 109 carat Lesedi La Rona recovered in Botswana after bidders failed to reach the reserve price at a public auction in London mid this year. The company said at the time that the failure of the diamond...

28 november 2016

Angola‘s geological survey nears completion

Angola had for the past few years been conducting a geological survey as part of the National Geology Plan (Planageo). The programme was initially slated to complete by the end of 2015, but the geological institute of Angola general director Mankenda...

21 november 2016

Normalcy has returned to Indian jewellery industry, despite remaining tax issues

G.V. Sreedhar, Chairman of the All India Gems & Jewellery Trade Federation (GJF) since 2015, was associated with the organization since its inception. He is also the Past President of the Jewellers Association, Bangalore [JAB]. Under his guidance...

14 november 2016

Diamond club eyes fair trade environment in Sierra Leone

Sierra Leone emerged from a brutal civil war – which was fuelled by illicit diamond trading – that left tens of thousands without limbs and worse still dead. The war, which lasted for 11 years ended in 2002 and the West African nation became a member...

07 november 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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