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
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
FinancialsApr 14, 2026
LVMH’s Q1 Sales Sink 6% Amid Middle East ConflictPlus, how Saks Global’s bankruptcy affected the luxury giant’s first quarter.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
Weekly QuizApr 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
MajorsApr 09, 2026
Tiffany & Co. Promotes Nathalie Verdeille to SVP, Chief Artistic OfficerIn her newly expanded role, she will continue to oversee the jewelry category, as well as watches, home, and accessories.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
SourcingApr 09, 2026
AGA To Honor ‘Quiet Leadership’ With New AwardThe Alan Hodgkinson Medal recognizes gemologists who are consistently generous with their time and expertise.
WatchesApr 09, 2026
Oris Names New CEO, CFOThe Swiss watchmaker is changing up its executive leadership team as part of a restructuring.
CollectionsApr 08, 2026
Hearts On Fire Celebrates 30 Years By Asking a QuestionThe “What’s Your Signature?” campaign invites women to think about how they see themselves.
SourcingApr 08, 2026
Sale of 42-Carat Blue Diamond Gives Petra a Boost in Q3The big diamond’s sale added to the company’s revenue though the market remains “challenging” overall, particularly for smaller goods.
Events & AwardsApr 08, 2026
AGS Confluence Returns with AI, Sustainability SessionsRob Bates of The Jewelry Wire will also moderate a panel on the state of the jewelry industry during the virtual event.
Events & AwardsApr 08, 2026
TJS to Honor 2 Longtime Former Stuller EmployeesThe Jewelry Symposium will honor two industry veterans with lifetime achievement awards at its upcoming May event.
TrendsApr 08, 2026
Amanda’s Style File: April’s Brilliant Birthstone With their durability, brilliance, and beauty, diamonds are the perfect stone for everyday birthstone jewelry.
MajorsApr 07, 2026
QVC Group’s Latest Filing Calls Its Future Into QuestionThe retailer failed to file its annual report on time and said it may issue a going concern warning.
ColumnistsApr 07, 2026
Peter Smith: A Tip to the Post Office on Workplace CultureSmith recounts a recent trip to the post office that included an uncomfortable, embarrassing, and public exchange between two employees.
GradingApr 07, 2026
GIA CFO David Tearle to Retire in June John Cowley, who has more than 30 years of experience, is succeeding Tearle as the lab’s chief financial officer.
CollectionsApr 07, 2026
Nerd Out Over Gemology Geek’s First Jewelry CollectionFounder Erica Silverglide has designed 35 colorful pieces set with fluorescing gemstones for the brand's first finished jewelry offering.
CollectionsApr 07, 2026
Ukrainian Jewelers Highlighted In New Book“Ukrainian Jewelry | Contemporary Jewelry and Art Jewelry from Ukraine” features 33 contemporary Ukrainian designers and studios.
