Close X
Sunday, January 12, 2025
ADVT 
National

Ten Arrested For Duping People In US, India Of Diamonds Worth $9 Million

Darpan News Desk, 06 Apr, 2017 12:09 PM
  • Ten Arrested For Duping People In US, India Of Diamonds Worth $9 Million
Ten people have been arrested and two others charged for allegedly duping persons in New York, Las Vegas and Mumbai to the tune of over US $9 million through fraudulent diamond trade.
 
Godel Sezanayev, Mark Mullakandov, Albert Foozailov, Imanil Muratov, Manashe Sezanayev, Nathan Itzchaki, Arkadiy Israilov, Ali Javidnezhad, Mark Natanzon, Sholom Muratov, Menachem Abramov and Nizamuden Akbari were arrested for defrauding diamond traders of more than US $9 million, acting US attorney for the Southern District of New York Joon Kim said. Two others are absconding, he said.
 
"Centered in Manhattan's diamond district, America's busiest hub in the diamond trade, the defendants allegedly took advantage of an industry-wide system of credit and trust to obtain largely untraceable diamonds, and then, using various allegedly illegal schemes, refused to pay," Kim said.
 
 
Since in or about 2015, the FBI has been investigating a series of predatory frauds perpetrated by a group of diamond merchants in the city. This group swindles diamond wholesalers in a variety of ways, and then resells the ill-gotten diamonds through Manhattan's diamond district.
 
From at least January 2015 to November 2016, the defendants deployed an ad-hoc strategy to obtain as much of the diamond inventory from the victims as possible without full payment, the attorney said.
 
The defendants also induced numerous victims in Mumbai to send diamonds by interstate carrier by purporting to agree to payment terms that they had no intention to, and did not, honour. The defendants caused these victims losses in excess of US $7.44 million, Kim said.
 
According to the complaint, the victims in Mumbai worked in diamond wholesale businesses in and around the city.  In about September 2016, the victims reported to authorities claiming millions of dollars in losses caused by the defendants. They sent the diamonds ordered by the defendants, through a fraudulent scheme, to New York.
 
However, the victims did not get paid and were told over a period of time that the diamonds were with someone else or they did not have the money cash to pay. The victims have still not been paid for the diamonds that they sold in the scheme.
 
The 12 accused have been charged with conspiring to commit mail fraud, which carries a maximum sentence of 20 years in prison.

MORE National ARTICLES

Grieving Saskatchewan Family Angry Convicted Drunk Driver Moved To Healing Lodge

SASKATOON — A relative of a Saskatchewan family killed in a drunk-driving crash says the woman convicted of their deaths was transferred to a healing lodge one month after being sentenced to 10 years in prison.

Grieving Saskatchewan Family Angry Convicted Drunk Driver Moved To Healing Lodge

Huge, Hairy Animal Washes Up Ashore In Philippines, Leaves Locals Baffled

Huge, Hairy Animal Washes Up Ashore In Philippines, Leaves Locals Baffled
On the afternoon of February 22, locals began posting pictures of an unidentified, white mass on social media - pictures that have since then been picked up by various news channels. 

Huge, Hairy Animal Washes Up Ashore In Philippines, Leaves Locals Baffled

Geotechnical Experts Called As 400-metre Crack Spotted Near Site C Work Area

Geotechnical Experts Called As 400-metre Crack Spotted Near Site C Work Area
VANCOUVER — BC Hydro has confirmed that a 400-metre crack has appeared in the ground near the Site C hydroelectric project in northeastern British Columbia.

Geotechnical Experts Called As 400-metre Crack Spotted Near Site C Work Area

Trump Tower Opens In Vancouver But The Welcome Isn't Warm

Trump Tower Opens In Vancouver But The Welcome Isn't Warm
The mayor wants its name changed. A city councilman calls it "over the top, glitz and glamor" that clashes with Canadian values. And the property developer who built it sounds traumatized by the whole affair.

Trump Tower Opens In Vancouver But The Welcome Isn't Warm

Magnitude 4.9 Earthquake Strikes Northwestern Vancouver Island

Magnitude 4.9 Earthquake Strikes Northwestern Vancouver Island
  The U.S. Geological Survey reports a magnitude 4.9 quake occurred at 4:28 (PT) Friday morning.

Magnitude 4.9 Earthquake Strikes Northwestern Vancouver Island

New Destination: Indian Students Flock To Australia For Higher Studies

New Destination: Indian Students Flock To Australia For Higher Studies
The numbers are likely to increase exponentially in the coming months as, according to some media reports, international students are beginning to shun the US because of the anti-immigrant policies of President Donald Trump

New Destination: Indian Students Flock To Australia For Higher Studies