Synthetic Diamonds Scam Fallout: Firm Banned From Alibaba

Compliance
19/02/2016 23:01

Alibaba, the leading e-commerce portal for global wholesale trade blacklisted and removed a New Delhi-based supplier of synthetic diamonds and gem simulants after it tried to sell lab-grown diamonds with fake Gemological Institute of America (GIA) natural diamond certificates. The New Delhi-based seller identified as International Trading Corporation (ITC) had put up the wholesale offer to supply 10,000 carats of CVD diamonds a week with the GIA certificates. Priced at $100 per carat and above, each and every one of these CVD diamonds was put on sale with a genuine GIA natural diamond report.