Manhattan diamond dealer charged in scheme to swap real diamonds for fakes

Date:

Share post:


NEW YORK — A Manhattan diamond dealer with a history of gemstone fraud was indicted Thursday in what officials describe as a scheme to swindle his fellow merchants out of nearly half a million dollars by replacing their real diamonds with lab grown imitations.

Prosecutors say Manashe Sezanayev invited reputable dealers to his store in New York’s diamond district earlier this year under the guise of purchasing true diamonds from them. But while inspecting their product, he allegedly pocketed three diamonds worth $460,000, covertly swapping them with duplicates cut and inscribed to look like originals.

“Diamonds are forever, but this alleged scheme was short-lived,” Manhattan District Attorney Alvin Bragg said in a statement.

Sezanayev, 41, pleaded not guilty Thursday to charges of grand larceny, a scheme to defraud and criminal possession of a forged instrument.

“My client is presumed innocent and he’s going to wait for his day in court,” his attorney, Boris Nektalov, said by phone.

Sezanayev was among a group of ten defendants arrested in 2017 on federal charges of defrauding diamond wholesalers out of $9 million. He was sentenced to one year in prison after pleading guilty and was ordered to pay $510,030 in restitution to one of the victims.

The most recent charges stem from him targeting two diamond merchants who came to Sezanayev’s shop, Rachel’s Diamonds, in February and April of this year, prosecutors said.

Prosecutors have accused him of substituting the fakes while pretending to weigh two diamonds worth $185,000 and $75,000 apiece. Each of the fakes featured forged laser inscriptions from the Gemological Institute of America, prosecutors said.

Sezanayev has also been accused of attempting to pull the same scheme against another merchant two months later. In that case, prosecutors said, the merchant soon discovered that his $200,000 diamond was replaced with a lab grown fake.



Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war

WASHINGTON -- Russia's third largest bank, Gazprombank and its six foreign subsidiaries were hit with U.S. sanctions...

Kenya cancels airport and energy deals with Adani group after the U.S. indicts the tycoon

NAIROBI, Kenya -- Kenya’s president said Thursday he has cancelled multimillion-dollar airport expansion and energy deals with...

North Korea and Russia agree to expand their economic cooperation

SEOUL, South Korea -- North Korea and Russia reached a new agreement for expanding economic cooperation following...

Stock market today: Asian shares mostly slip despite Nvidia's solid earnings report

TOKYO -- Asian shares were mostly lower on Thursday after a mixed close on Wall Street, with...

Feds outline 'necessary steps' for Colorado River agreement by 2026 but no recommendation yet

LAS VEGAS -- Federal water officials made public on Wednesday what they called “necessary steps” for seven...

A social media ban for children younger than 16 is introduced in Australia's Parliament

MELBOURNE, Australia -- Australia’s communications minister introduced a world-first law into Parliament on Thursday that would ban...

As US ramps up nuclear power, fuel supplier plans to enrich more uranium domestically

OAK RIDGE, Tenn. -- A supplier of fuel for nuclear power plants announced a $60 million expansion...

How major US stock indexes fared Wednesday, 11/20/2024

U.S. stocks drifted to a mixed finish, though the modest moves for indexes masked some thrashing underneath...