WatchesSep 21, 2021
Big Lessons From the Lil Baby Watch DebacleCrimeSep 23, 2021
5 Men Who Fenced Stolen Diamonds Get 15 Years in Prison
They bought and resold jewels from a South America-based gang that targeted traveling salespeople across the United States.
Dallas—Five men who purchased and resold stolen jewelry stolen have been sentenced to more than 15 years in federal prison combined and ordered to pay millions in restitution.
According to the U.S. Attorney’s Office for the Northern District of Texas, the men fenced jewels obtained from what it referred to as a “South American theft and robbery group” that targeted traveling salespeople across the U.S.
One of the men, 51-year-old Romelio Riveron, pled guilty in March 2020 to engaging in a conspiracy to launder money.
According to court documents, Riveron said he traveled from Miami to Texas and other states to purchase stolen diamonds from the group, buying for below market value to turn a profit upon reselling and sending cash payments to co-conspirators in Colombia.
He was sentenced to 32 months in federal prison and ordered to pay $2.3 million in restitution. The U.S. Attorney’s Office said he’s paid back approximately $230,000 to date.
In 2019, Elkin Acosta Lopez, 46, and Harrinson Corredor, 29, both pled guilty to money laundering as well.
Plea papers show that Lopez admitted to regularly flying from Bogota, Colombia to Texas to meet up with the robbers and purchase stolen jewelry.
He would then travel to New York City to melt it down before selling it in the U.S. or returning to Colombia to sell it in his shop.
Corredor said he connected Lopez with the robbers and helped broker sales, knowing the jewelry was stolen and taking a portion of the proceeds.
He was sentenced to 63 months in prison and ordered to pay $1.8 million in restitution, while Lopez was sentenced to 68 months and ordered to pay $1.4 million.
Related stories will be right here …
According to the U.S. Attorney’s Office for the Northern District of Texas, the men fenced jewels obtained from what it referred to as a “South American theft and robbery group” that targeted traveling salespeople across the U.S.
One of the men, 51-year-old Romelio Riveron, pled guilty in March 2020 to engaging in a conspiracy to launder money.
According to court documents, Riveron said he traveled from Miami to Texas and other states to purchase stolen diamonds from the group, buying for below market value to turn a profit upon reselling and sending cash payments to co-conspirators in Colombia.
He was sentenced to 32 months in federal prison and ordered to pay $2.3 million in restitution. The U.S. Attorney’s Office said he’s paid back approximately $230,000 to date.
In 2019, Elkin Acosta Lopez, 46, and Harrinson Corredor, 29, both pled guilty to money laundering as well.
Plea papers show that Lopez admitted to regularly flying from Bogota, Colombia to Texas to meet up with the robbers and purchase stolen jewelry.
He would then travel to New York City to melt it down before selling it in the U.S. or returning to Colombia to sell it in his shop.
Corredor said he connected Lopez with the robbers and helped broker sales, knowing the jewelry was stolen and taking a portion of the proceeds.
He was sentenced to 63 months in prison and ordered to pay $1.8 million in restitution, while Lopez was sentenced to 68 months and ordered to pay $1.4 million.
The fourth perpetrator, 60-year-old Rubenhay Pinkhasov, pled guilty in 2019 to conspiracy to transport stolen goods in interstate commerce.
Pinkhasov admitted to helping move the stolen diamonds across state lines and to purchasing stolen diamonds and jewelry from the theft and robbery group twice.
He was sentenced to a 27 months behind bars and ordered to pay $1 million.
The fifth man sentenced in the case was 49-year-old Yuri Alishaev, a prominent jewelry dealer in New York City’s Diamond District, according the attorney’s office.
Alishaev said in court documents that he agreed to purchase stolen diamonds from Pinkhasov.
He pled guilty to concealment of a felony and was sentenced to probation. The U.S. Attorney’s Office said he’s paid off the entirety of the $1 million he owes in restitution.
The South American theft and robbery group from which the five purchased diamonds was connected to many violent instances nationwide, including robbing one traveling jewelry salesman in Irving, Texas, at gunpoint before beating him to death.
Between 2016 and 2018, the U.S. Attorney’s Office for the Northern District of Texas charged 20 members of the group, all of whom have been convicted and sentenced.
More on Crime
The Latest
Events & AwardsOct 29, 2025
October Brings Little Change to Consumer Confidence Consumers are feeling more optimistic about their present situation while the short-term future remains a little scary.
Events & AwardsOct 29, 2025
Couture Partners With Time to WatchesThe company, which organizes a watch show in Geneva every spring, will bring a selection of watch brands to the 2026 Couture show in Vegas.
TrendsOct 29, 2025
Beth Bernstein Releases Vintage Jewelry Guide“The Modern Guide to Vintage Jewellery” follows the evolution of jewelry design from the ‘30s to the ‘80s with buying and styling advice.
EditorsOct 29, 2025
Why Creepy, Crawly Bugs Inspire Beautiful JewelryFor her annual Halloween story, Senior Editor Lenore Fedow explores the symbolism behind spiders, beetles, and other eerie insects.
Weekly QuizOct 16, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsOct 28, 2025
Meet the 2026 Gem Award NomineesNotable jewelry designers, members of the press, and retailers are up for an award at next year’s gala.
Recorded WebinarsOct 28, 2025
Watch: The State of the Jewelry Industry Leaders from Jewelers of America and National Jeweler discuss the gold price, tariffs, and more in this one-hour webinar.
Brought to you by
DESERT DIAMONDS: The Newest Trend in Natural Diamond JewelryFrom sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.
CollectionsOct 28, 2025
Eriness Reflects on Life in ‘One of One’ CollectionAfter experiencing motherhood, growth, and loss, founder and designer Erin Sachse has created 10 irreplaceable jewels.
AuctionsOct 27, 2025
Napoleon Left This Brooch Behind, And Now It’s Up For AuctionIt is part of Sotheby’s “Royal & Noble Jewels” sale along with an ornate hair ornament and an old mine-cut light pink diamond ring.
MajorsOct 27, 2025
Target to Cut 1,800 Corporate JobsThe retailer, which has faced struggling sales in recent quarters, is looking to streamline its operations.
Events & AwardsOct 27, 2025
Hill Management Group Hired to Help Atlanta Jewelry ShowHill Management Group will oversee, market, and produce next year’s spring show.
AuctionsOct 24, 2025
Bonhams Under New Ownership, Top Executives ReplacedLondon-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
GradingOct 24, 2025
DMIA to Hold Diamond Testing Instrument DemoThe workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.
CollectionsOct 24, 2025
Piece of the Week: Wyld Box Jewelry’s ‘Ray of Light’ EarringsFounder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.
FinancialsOct 23, 2025
Jewelry Sales Resilient Despite Struggles at LVMH, KeringThe luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.
SourcingOct 23, 2025
Petra Diamonds Turns to Shareholders to Raise Capital The struggling diamond mining company, which owns the historic Cullinan mine, has launched a rights issue to raise about $25 million.
WatchesOct 23, 2025
‘Million Dollar Hip Hop Watches’ Recounts Watch HistoryThe book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.
AuctionsOct 23, 2025
Freeman’s | Hindman Names New VP, Senior Specialist for Jewelry & WatchesAlexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.
TrendsOct 22, 2025
The Taylor Swift Effect: Antique Diamonds EditionThe superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.
TrendsOct 22, 2025
Don’t Forget These Diamond Jewelry Trends When Stocking for the HolidaysRetailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.
AuctionsOct 22, 2025
Pink Diamond, Vanderbilt Jewels to Headline Phillips’ Geneva AuctionThe nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.
SourcingOct 22, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 22, 2025
Tiffany & Co.’s ‘Bird on a Rock’ Finds New PerchChief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.
Events & AwardsOct 22, 2025
JFC Kicks Off Halloween Costume ChallengeFive dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.
Events & AwardsOct 22, 2025
Hillsborough Antique Show Gets New OwnerRecently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.
GradingOct 21, 2025
GIA Examines Rare Bicolor Pink DiamondThe stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.
