RapNet Follows GIA, Suspends Members After Hacking Scandal

Grading
29/10/2015 10:49

RapNet, the Rapaport Diamond Trading Network, has suspended 10 members pending further investigation. The members have also been suspended by the Gemological Institute of America (GIA) for allegedly participating in a scheme that hacked into the GIA’s computer system and upgraded 1,042 GIA grading reports. GIA issued laboratory alerts invalidating the grading reports and naming the suspended members. RapNet has removed all diamonds with grading reports involved in this matter as well as all other diamonds listed by suspended members. The names of the suspended Rapnet Members are:, A. Lallubhai & Brothers, Admg Diamonds Pvt. Ltd, Darshna Gems, Dirgh Diamond Pvt. Ltd., Mahima Gems, Nidhi Impex, Pansuriya Impex, Shree Yogeshwar Gems, Sitaram Gems and Unity (HK).