GIA Bans Five Indian Companies for Alleged False Inscriptions

Retail and Consumer Confidence
03/08/2015 22:03

The Gemological Institute of America has banned five Indian companies from further submissions to its grading lab, alleging they inscribed diamonds with GIA report numbers not associated with those gems. “We reasonably suspect that stones submitted under your client account, and other accounts for which we believe you to be partnered, have been inscribed with preexisting GIA report numbers that were not issued for the particular stones being submitted and that GIA did not inscribe,” said the letter from lab director Tom Moses to a principal of Surat-based Cristy Gems. “This has occurred on a number of occasions, indicating a pattern of intentional conduct.”

In related news, the Bharat Diamond Bourse has suspended a Mumbai-based company and four of its directors for allegedly “dealing in lab- grown synthetic diamonds without making the necessary disclosures in respect of the same.” The text of that announcement can be seen here.