Four traders sentenced for diamond certificate fraud in Antwerp

Five individuals, including four traders have been found guilty of diamond certificate fraud by the from the Correctional Court in Antwerp. The court has passed sentences of mandatory prison and substantial mandatory fines, as per reports. The allegation was the people had bribed an employee of HRD Antwerp diamond lab and were able to able to obtain certificates stating a higher color grade for their diamonds than is actually the case. With this, they were able to fraudulently sell their diamonds for a substantially higher price than the actual value of the diamonds in question. AWDC statement mentioned ‘No mercy for those involved in certification fraud’.

Ari Epstein, CEO of AWDC: "We are pleased that the court hands down very harsh penalties on these types of crimes. These judgments deliver an unmistakable message: those who break the rules will be punished severely. In our industry, everything depends on trust - when you give your word, you keep it. Those that violate that principle damage the reputation of the entire industry, and that is simply unacceptable."