The vanguard of independent diamond-industry journalism, Chaim-Even Zohar, last week announced his retirement, bringing more than 40 years of uncompromising investigative reporting to an end.
The De Beers Group made headlines last month when it announced the end of its joint venture with LVMH with the aquisition of their 50% share in De Beers Diamond Jewellers (DBDJ), a move that Chaim Even-Zohar characterizes as, "brilliant and long overdue." He writes, "With De Beers at the helm, the venture will get a realistic chance to succeed.
"No, this is not a joke - I wish it were." So begins Chaim Even-Zohar's latest Diamond Intelligence Briefing, which uncovers a bizarre oversight involving the U.S. Kimberley Process Authority (USKPA): it does not officially exist at all. Rather, USKPA's Director and General Counsel Cecelia Gardner told Zohar the organization has been operating under a DBA ("doing business as") name, while the full name is "U.S. Kimberley Process Authority Institute" (USKPAI) ... but this as well has ceased to exist.
In his latest Diamond Intelligence Briefing, "A Fraud in Progress... A Criminal Conspiracy to Default Hits Indian Exporters", industry insider Chaim Even-Zohar unravels a massive case of fraud perpetrated by a rogue diamond broker and US-based buyers against Indian diamond suppliers, currently estimated at $35-50 million.
By Chaim Even-Zohar. Reprinted from Diamond Intelligence Briefs by special arrangement. Click here to read the first article.
The world's leading crystal jewelry company Swarovski, with a presence in approximately 170 countries and annual revenue estimated at over $3.3 billion, is now selling synthetic diamonds, reports diamond journalist Chaim Even-Zohar. The jewelry brand has launched Diama, its first lab-grown diamond line, marking a shift for a company that has traditionally sold diamond simulants. Its foray into the synthetic diamond business "was planned and executed in utmost secrecy." Swarovski Created Diamonds are now making their debut in a test phase in the U.S.
In a follow-up article to Chaim Even-Zohar's bombshell about CVD synthetic diamonds being sold on Alibaba with GIA natural diamond certificates, the Diamond Intelligence Briefing (DIB) identifies the name behind the fraud: Diwakar Dhyani.
Diamond industry analyst Chaim Even-Zohar has published an analysis of the steps that led to, and the potential results of, De Beers' (DB) deferral of contractually obligated purchases from its own rough supplier in Botswana - Debswana (DW). Suddenly, the standard-bearing producer of rough diamonds is behaving like any other rough trader further downstream, refusing to purchase rough diamonds that are overpriced.
In his latest Diamond Intelligence Briefings, Chaim Even-Zohar recounts the discovery and the documented reversal of a treated diamond, upgrading the stone temporarily by several grades, discovered at the Antwerp IGI lab in November last year. According to the IGI lab, the reversal process - through acid boiling -, which was witnessed and documented in an affidavit, revealed the diamonds were treated with a coating, temporarily upgrading the color grade of a 3.03ct diamond four grades, from J to G+ color.
By Chaim Even-Zohar. Reprinted from Diamond Intelligence Briefs by special arrangement.
The phone went silent. I had just outlined the underlying principles of the new turnover tax contemplated for Antwerp’s diamond sector to an Indian friend in Dubai – it made him speechless. When he finally did speak, he said: “Wow, if what you say is true, then we can come back to Antwerp. There would be no reason whatsoever to be here in Dubai. We’ll be close to my children again.”