An American business site reports that two Maryland residents are suing a firm called Mervis Diamond Importers for allegedly selling them diamonds that were overgraded. CEO Ronnie Mervis said he hasn't read the suits yet and could not comment on them specifically. But in a statement posted on the Mervis website before the lawsuits were filed, Mervis offers a video with a personal message addressing the accusations and dismissing the questions as a “smear campaign.” “Recently, we’ve been challenged and harassed by a group from out of state making wild allegations,” he said in the video.
The GIA said in a statement that just 175 of the 1,042 diamonds discovered to have had their grading reports changed in a hacking case by the lab's Indian sub-contractor have been returned for examination to the lab. It is imperative that all of the diamonds and their reports be returned to GIA for examination to remove the fraudulently altered reports from the market. The diamond trade must hold those who would commit such fraudulent acts accountable for their actions. The cooperation of the trade is vital as GIA works to fully address this fraud.
The head of the World Federation of Diamond Bourses answers question on a wide range of issue of concern to the global diamond industry, including sales, declining profitability, finance, overgrading, generic marketing and the challenges of beneficiation.
"You might be entitled to significant compensation" is the headline on the homepage of the site, which explains about recent overgrading claims.