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.
Editors' Picks
Sponsored by
More on Crime
The Latest
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
