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
TrendsDec 03, 2025
Miley Cyrus Debuts Edgy Engagement RingFellow musician Maxx Morando proposed to the star with a chunky, cushion-cut diamond ring designed by Jacquie Aiche.
MajorsDec 03, 2025
Costco Joins Growing Wave of Retailers Suing for Tariff Refunds The retailer, which sells billions in fine jewelry and watches, is suing the Trump administration and U.S. Customs and Border Patrol.
SurveysDec 03, 2025
A Record 202.9M Shoppers Turned Out Thanksgiving WeekendBlack Friday is still the most popular shopping day over the five-day holiday weekend, as per the National Retail Federation’s survey.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
AuctionsDec 03, 2025
Fabergé’s 'The Winter Egg' Achieves Record $30MThe historic egg, crafted for Russia's ruling family prior to the revolution, was the star of Christie’s recent auction of works by Fabergé.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsDec 02, 2025
Signet Jewelers’ Q3 Sales Up Amid Continued Focus on Lower Price PointsThe retailer offered more fashion jewelry priced under $1,000, including lab-grown diamond and men’s jewelry.
CollectionsDec 02, 2025
Briony Raymond Introduces First FragranceThe eau de parfum is held in a fluted glass bottle that mirrors the decor of the brand’s atelier, and its cap is a nod to its “Sloan” ring.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
SourcingDec 02, 2025
Petra Diamonds Elevates Interim CEOs to Permanent StatusVivek Gadodia and Juan Kemp, who’ve been serving as interim co-CEOs since February, will continue to lead the diamond mining company.
MajorsDec 02, 2025
Lee Krombholz Takes Over as Chair of MJSA Education FoundationIn addition, a slate of new officers and trustees were appointed to the board.
IndependentsDec 02, 2025
RJO Welcomes Its 1,200th Retail MemberWitt’s Jewelry in Wayne, Nebraska, is the organization’s new milestone member.
SourcingDec 02, 2025
Brendan Laurs Honored With 2025 Bonanno AwardLaurs is the editor-in-chief of Gem-A’s The Journal of Gemmology and an expert on the formation of colored gemstone deposits.
AuctionsDec 01, 2025
Christie’s Presents ‘Splendor & Style’ CollectionThe single-owner collection includes one of the largest offerings of Verdura jewels ever to appear at auction, said Christie’s.
IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago JewelerMichael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
MajorsDec 01, 2025
PGI Debuts Platinum-Filled Holiday Gift GuideThe guide features all-new platinum designs for the holiday season by brands like Harwell Godfrey, Ritani, and Suna.
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
SourcingNov 25, 2025
Finestar Opens Diamond Manufacturing Facility in JohannesburgIt joins the company’s other manufacturing facilities globally, including in India, Botswana, and Namibia.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
Recorded WebinarsNov 24, 2025
Watch: Top Tips for Social Media EtiquetteSocial media experts spoke about protecting brand reputation through behaving mindfully online.
WatchesNov 24, 2025
Breitling Reveals Plans for Gallet, Universal GenèveIn 2026, the three will come together as “House of Brands,” with Gallet sold in Breitling stores and Universal Genève sold separately.
CollectionsNov 24, 2025
Muse Debuts a Wicked 'Have a Heart x Cynthia Erivo' SequelThe second drop, which includes more Elphaba-inspired pieces from additional designers, will continue to benefit nonprofit Dreams of Hope.
