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
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
TechnologyOct 13, 2026
GemFind Is a New JA Member Benefit Partner The partnership will give JA members access to preferred pricing, exclusive benefits, technology solutions, education, and resources.
SurveysOct 09, 2026
These Will Be the 10 Busiest Days for In-Store Shopping This Holiday SeasonStores should expect to see the most customers on Nov. 27, and Christmas week is expected to be hectic too, as Dec. 25 falls on a Friday.
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
AuctionsOct 09, 2026
8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
Policies & IssuesOct 08, 2026
Third Wave of IEEPA Tariff Refunds Begins This round of tariff refunds is for importers that have sued over IEEPA tariffs in the Court of International Trade and won.
CollectionsOct 08, 2026
Brent Neale’s New Collection Goes ‘Back to Basics’It revisits the brand’s most requested silhouettes, from "Pillow"-set necklaces and bracelets to "Signature"-set rings and earrings.
