IDE says investigations are on regarding 500 diamonds suspected to be within the market without disclosure

Further announcements came forth by the Israel Diamond Exchange (IDE) regarding the case of over 500 diamonds suspected to have been circulated in the Israeli diamond industry, reports say. The diamonds are high-quality, treated polished diamonds in the Israeli diamond trade. Also, the diamonds are suspected to have been distributed without disclosure, and carrying GIA diamond grading reports that misrepresented the diamonds' true identity, reports add.

The IDE noted that “the enquiry is being led by authorized bodies and according to the picture that emerges, the IDE will decide how it proceeds with the issue”. The IDE said that the investigation is continuing, and “If there are still questions and lack of clarity regarding the GIA certificates, diamantaires are asked to contact the IDE's legal counsel and to receive instructions from the Legal Department”.