CrimeJul 26, 2022
Harris Jewelry to Pay Millions in Predatory Lending SettlementCrimeAug 01, 2022
Joseph DuMouchelle Sentenced to 12 Years Behind Bars in $12M Fraud
The Michigan auctioneer and appraiser also has to pay restitution totaling $25 million for other victims of his fraud scheme.
Detroit—Joseph Gregory DuMouchelle, a jewelry buyer, auctioneer and appraiser with decades of experience, was sentenced to a little over 12 years in federal prison last week after pleading guilty to wire fraud.
The case against DuMouchelle, the 61-year-old owner of Joseph DuMouchelle Fine & Estate Jewelry Buyers, Sellers, Appraisers and Auctioneers in Birmingham, Michigan, was filed in federal court in Detroit in November 2019.
The original criminal complaint outlined two situations involving alleged wrongdoing on DuMouchelle’s part, but he pleaded guilty to wire fraud involving just one jewel—a 77.12-carat VS2 natural fancy vivid yellow diamond known as “The Yellow Rose.”
The scheme involving the Yellow Rose began in late 2018, when a man named Thomas Ritter, whom DuMouchelle knew through family, contacted the jeweler to collect on a $430,000 debt.
Instead of paying, DuMouchelle offered Ritter an opportunity he claimed would make him more money. He could buy the Yellow Rose for $12 million, sell it for $16 million and the two would split the profit.
To trick Ritter into believing the investment was legitimate, DuMouchelle instructed him to wire transfer the $12 million into an account he claimed belonged to the seller.
But, “as DuMouchelle well knew and intended, the wire transfer instructions were to his own account. After the client unknowingly wired the money into DuMouchelle’s account, DuMouchelle quickly withdrew the funds and used them to pay his personal and business debts and expenses,” the U.S. Attorney’s Office for the Eastern District of Michigan said in a news release about DuMouchelle’s sentencing.
U.S. District Judge Mark A. Goldsmith sentenced DuMouchelle to 151 months in federal prison followed by three years of supervised release.
It was part of his plea agreement that other victims of his fraud scheme and their losses would be used to calculate the amount of time he could potentially serve as well as the amount of restitution he owed.
Goldsmith determined DuMouchelle owes $25.2 million in restitution. The court also ordered him to forfeit the $12 million from the Yellow Rose fraud.
DuMouchelle’s attorney, Gerald Gleeson II of Miller Canfield in Detroit, declined to comment on the sentencing.
“This defendant defrauded investors by convincing them he was buying and selling rare jewelry for big profits,” said James A. Tarasca, special agent in charge of the FBI’s Detroit Division.
“Instead of actually conducting those transactions, DuMouchelle used the victims’ money to help maintain his expensive lifestyle. The success of this investigation is the result of a strong partnership between the Birmingham [Michigan] Police Department and the FBI’s Detroit Metropolitan Identity Theft and Financial Crimes Task Force.”
More on Crime
The Latest
CollectionsJul 25, 2025
Piece of the Week: Jemma Wynne’s ‘Forme’ NecklaceAnne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”
Events & AwardsJul 25, 2025
Pre-Registration Open for September Hong Kong ShowJewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.
FinancialsJul 25, 2025
LVMH Sales Slip in H1 Amid ‘Prevailing Uncertainties’Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime AchievementMark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.
Weekly QuizJul 25, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 24, 2025
De Beers Sees Diamond Production Sink 36% in Q2 While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.
CollectionsJul 24, 2025
Francesca Villa Adds Dimension to Her Intaglio CharactersThe “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
WatchesJul 24, 2025
Breitling Drops Super Bowl Watch Honoring the Philadelphia Eagles The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern IndiaThe “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHoCreative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.
IndependentsJul 23, 2025
IJO Raises Nearly $37K for LA Fire Relief Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.
CollectionsJul 22, 2025
Jewelry With a Rock ‘n’ Roll Aesthetic Heads to Sotheby’s LondonNext week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.
SourcingJul 22, 2025
Antwerp Diamond Heist Documentary Coming to Netflix“Stolen: Heist of the Century” is based on “Flawless,” the book about the middle-of-the-night theft, and will debut on Netflix in August.
ColumnistsJul 22, 2025
The Gifting Gap: How to Market Jewelry Beyond the HolidaysEmmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.
Events & AwardsJul 22, 2025
NY Now’s Summer Market Returns in AugustThe wholesale trade show’s Luxury Lifestyle section will showcase established and emerging jewelry designers.
MajorsJul 21, 2025
Rio Grande Expands Personalization OfferingsAs demand for custom jewelry grows, the company is expanding its services to support retailers.
Events & AwardsJul 21, 2025
NAJA’s 2025 ‘Ace It’ Conference To Go VirtualThe mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.
TrendsJul 21, 2025
Amanda’s Style File: Graduated With Honors Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.
Events & AwardsJul 21, 2025
Gem Awards Now Accepting Nominations for 2026Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.
MajorsJul 18, 2025
Lewis Heyman on Sourcing Gemstones, Post-Retirement PlansHe retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.
TrendsJul 18, 2025
Piece of the Week: CCWW Designs’ Shell Charm NecklaceThe charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.
MajorsJul 18, 2025
Plumb Club Elects New Board MembersThe organization elected its youngest vice president as it looks to draw in fresh talent.
TechnologyJul 18, 2025
Brad Campbell, John Liebler Join Clientbook’s Executive Team Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.
CollectionsJul 17, 2025
2026 Winter Olympic Medal Design Symbolizes UnityThe medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.
Supplier BulletinJul 17, 2025
The INSTORE Jewelry Show 2025: Your Holiday Preparations, All Wrapped Up! Sponsored by The INSTORE Jewelry Show 2025
SurveysJul 17, 2025
The Most Recommended Brands in the World, According to YouGovGlobally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.
