NYC Diamond Dealer Accused of Lab-Grown Diamond Swaps
Manashe Sezanayev faces felony charges of fraud and grand larceny for allegedly replacing three natural diamonds with lab-grown ones.
![Manashe “Mike” Sezanayev, who operates a diamond business on 47th Street in New York City’s Diamond District, is accused of stealing $460,000 worth of natural diamonds by swapping them out for significantly less valuable lab-grown stones. Stock image of loose polished diamonds](https://uploads.nationaljeweler.com/uploads/d22dbef0ff66efc906f6e365fc871a30.jpg)
Manhattan DA Alvin Bragg Jr. said 41-year-old Manashe Sezanayev of Queens, New York, was indicted in New York State Supreme Court on two counts of second-degree grand larceny, one count of first-degree scheme to defraud—both felonies—as well as three counts of third-degree criminal possession of a forged instrument, a misdemeanor.
Sezanayev, better known as “Mike,” operates Rachel’s Diamonds (a.k.a. Rachel’s Lab Grown Diamonds) on Manhattan’s 47th Street.
According to court documents and statements made on the record in court, on Feb. 5, a diamond merchant came to Sezanayev’s office with two natural diamonds Sezanayev claimed to be interested in buying.
The stones were valued at approximately $185,000 and $75,000.
When Sezanayev turned his back to the dealer to weigh the stones on the scale, he allegedly swapped them out for two lab-grown diamonds that had been recut to mimic the natural diamonds’ weight and quality.
The lab-grown diamonds, which are worth significantly less than their natural counterparts, also had been fraudulently inscribed with report numbers for natural diamonds graded by the Gemological Institute of America.
Sezanayev allegedly pulled off another switch the following month, according to court records.
On March 27, Sezanayev told another diamond merchant that he had a customer interested in purchasing a diamond valued at about $200,000.
Sezanayev then allegedly purchased a lab-grown diamond that was recut to mimic the $200,000 natural diamond and inscribed with a fraudulent GIA report number.
The following week, on April 2, the merchant met with Sezanayev and his purported customer and Sezanayev examined the diamond.
It was only later that the merchant learned that the diamond Sezanayev returned to him was a lab- grown stone, according to court records.
Sezanayev has pleaded not guilty in the case and his attorney, Queens-based Boris Nektalov, told National Jeweler on Tuesday that his client is “awaiting his day in court.”
In the press release announcing Sezanayev’s indictment, the Manhattan DA’s office thanked both the New York Police Department and GIA for aiding in the investigation.
A GIA spokesman said Tuesday, “We are grateful that we were able to assist the Manhattan District Attorney’s office with the investigation … For many years, GIA has provided training and investigation assistance to law enforcement in the U.S. and around the world. This is part of our mission to protect consumers and our work to meet the industry’s needs.”
He also noted that in addition to the GIA iD100, the lab’s desktop diamond tester, the lab offers four services to match a loose diamond to its GIA report.
They are: GIA Report Check; GIA Report Confirmation Service, which became available at all GIA labs earlier this year; GIA Match iD, an inscription viewing instrument that uses AI; and the lab’s Update Service, in which GIA-graded diamonds can be submitted for re-evaluation.
In 2017, he was one of a dozen men charged with perpetrating a series of frauds that ultimately cheated diamond wholesalers out of more than $9 million in goods.
He pleaded guilty to one count of conspiracy to commit wire fraud in 2018 and was sentenced to 366 days behind bars, court records show.
According to the online database for the Federal Bureau of Prisons, Sezanayev was released from prison in December 2019.
The Latest
![Jeff High, 60, died from complications related to liver cancer on Thursday, Sept. 5. High was the founder of Gemvision and, later, the vice president of Dianna Rae Jewelry in Lafayette, Louisiana. Jeffrey Lynn High](https://uploads.nationaljeweler.com/uploads/1cdb3888521386bed245cf5acecb8375.jpg)
The Gemvision founder is remembered as a passionate mentor with a deep love for God.
![Inspired by the time of day just before the sun sets, the “Golden Hour” collection centers around rose-tinted and cool lilac hues with pink tourmalines, garnets, champaign citrines, and violet spinels. Foundrae Golden Hour Campaign](https://uploads.nationaljeweler.com/uploads/0b63e119272170e285bd0ff948be092e.jpg)
The “Golden Hour” collection was designed to “inspire and encourage reflection,” said the brand.
![Movado has named five new brand ambassadors, including (from left) Ludacris, Christian McCaffrey, Jessica Alba, Tyrese Haliburton, and Julianne Moore. Movado When I Move You Move campaign](https://uploads.nationaljeweler.com/uploads/f52d492a96792c6966b139713ebf7c7d.jpg)
Movado has named five new brand ambassadors, featuring them in its new “When I Move You Move” campaign.
![How to Increase Instagram Followers Naturally in 2024 2.0 (1).jpg](https://uploads.nationaljeweler.com/uploads/ce0b2d506437b6b5b6e9ea7de9150001.jpg)
Growing your Instagram following organically is more important than ever in today's technological environment.
![“If Jewels Could Talk” focuses on seven types of jewelry—hoops, rings, beads, charms, brooches, cuffs, and head ornaments. Carol Woolton](https://uploads.nationaljeweler.com/uploads/4435be8ada52946c1d7c768f06f5a1a1.jpg)
The jewelry historian discusses the history and cultural significance of jewelry throughout time and across the globe.
![](https://uploads.nationaljeweler.com/uploads/99a46b30cc354962ac2e29ecd113587a.jpg)
![Bonhams will host “The Legacy of a Stateswoman: The Personal Collection of Senator Dianne Feinstein” on Oct. 8 in Los Angeles. US Senator Dianne Feinstein](https://uploads.nationaljeweler.com/uploads/b1e629a10c7f525a9aeae5208740e0ca.jpg)
Bonhams will offer more than 70 pieces of the late dignitary’s jewelry next month.
![Each of the 16 new pieces in the “Vela” collection were inspired by the form of a feather, utilizing gentle curves and swooping lines in its silhouettes. Hearts On Fire Love, Unleashed Campaign](https://uploads.nationaljeweler.com/uploads/925cfd9cc0b86ae344d9ee7cd9d13d80.jpg)
The “Love, Unleashed” campaign is an ode to love, featuring 16 new designs from Hearts On Fire’s “Vela” collection.
![Supplier Spotlight -Recorded-Webinar.png](https://uploads.nationaljeweler.com/uploads/00d2546ac557992f0d02a3f1336eb094.png)
Supplier Spotlight Sponsored by GIA.
![Fuli Gemstones’ new “Beidou Cut” is a heptagon with 85 facets. Fuli gemstones beidou cut](https://uploads.nationaljeweler.com/uploads/ae506aa1c57799a7a8a34279d7f1ebce.jpg)
The miner’s new peridot cut will debut at the upcoming Hong Kong jewelry trade show.
![The “Fabergé x Beetlejuice Beetlejuice” collection features 22 jewels inspired by the new film. Fabergé Beetlejuice Beetlejuice jewelry collection](https://uploads.nationaljeweler.com/uploads/78361e751f2e3238b13e547c8e85c65d.jpg)
It’s showtime for these jewels, inspired by the motifs and color palette of the new Tim Burton film.
![A set of Movado Connect 2.0 watches. The company reported declining sales in its recent second quarter results. Movado Connect 2.0 watches](https://uploads.nationaljeweler.com/uploads/5d1cc61baba5bd86849eb79a0df1fd7c.jpg)
CEO Efraim Grinberg pointed to a challenging consumer spending environment, particularly in the watch category.
![Lizzie Mandler’s Liquid Gold Hoops](https://uploads.nationaljeweler.com/uploads/746314458eb97f28efb151c2315cddd7.jpg)
Inspired by a 19th century sculpture, Mandler transformed gold into liquid for these earrings.
![On the right, Hadid models for her first campaign as Chopard’s brand ambassador, while, on the left, she appears in the jeweler’s “Sculpted by Light” campaign. Bella Hadid in Chopard Campaigns](https://uploads.nationaljeweler.com/uploads/b4287ac9cd48a80ee5996d4de691c321.jpg)
The model and entrepreneur stars in two new Chopard campaigns.
![The Nordstrom Men’s Store in New York City. The Seattle-based retailer may soon go private following a $3.8 billion offer from members of the founding family and Mexican retail company El Puerto de Liverpool. Nordstrom men’s store New York City](https://uploads.nationaljeweler.com/uploads/c548f9e1b2a81417eb754cc739799d30.jpg)
Members of the founding family partnered with Mexican retail company El Puerto de Liverpool to possibly take Nordstrom private.
![To celebrate the 50th anniversary of Elsa Peretti’s arrival at Tiffany & Co., the jeweler will feature her Bone Cuff in its ongoing campaign celebrating its most notable collections. Tiffany & Co. Elsa Peretti Bone cuff](https://uploads.nationaljeweler.com/uploads/b420ed7352655cdc4b8e1acdeaceb87a.jpg)
The iconic design has joined a lineup of notable pieces featured in the jeweler’s “With Love, Since 1837” campaign.
![Ralph Simons, a veteran luxury executive whose resume includes stints at Frederique Constant, Chopard North America, and Tane Mexico 1942, has been named CEO of jewelry brand Cadar. New Cadar CEO Ralph Simons](https://uploads.nationaljeweler.com/uploads/701ba9af82dedc21b73702ac33d75523.jpg)
Ralph Simons is now CEO of the jewelry brand started by fashion designer Michal Kadar and her husband, Avraham Kadar, in 2015.
![Duvall O’Steen, left, and Jen Cullen Williams are independent communications strategists and senior consultants for the Luxury Brand Group. They can be reached at DuvallOsteenNYC@gmail.com or Jen@JenCullenWilliams.com. National Jeweler columnists Duvall O’Steen and Jen Cullen Williams](https://uploads.nationaljeweler.com/uploads/f7ee249ac6084ae5aecc52b78bb4718f.jpg)
Jen Cullen Williams and Duvall O’Steen say it’s all about giving your social media feeds a human touch.
![Model Taylor Hill (pictured left) wore Messika’s “So Move” pieces, while model and singer Soo Joo Park showcased the brand’s “Move Noa” pieces. Models Taylor Hill and Soo Joo Park wearing Messika jewelry](https://uploads.nationaljeweler.com/uploads/f3b02e2a7a2e84c27e40230b2352bc23.jpg)
The models and friends of founder and artistic designer Valérie Messika showcase the brand’s jewelry in the “Back to Icons” campaign.
![Bloomingdale’s new “From Italy, With Love” campaign highlights Italian brands in jewelry, fashion, home, and more. It includes exclusive products and the introduction of more than 30 new Italian brands. Bloomingdale’s From Italy, With Love campaign](https://uploads.nationaljeweler.com/uploads/4721140018357aa15f6c853c69c3aef2.jpg)
“From Italy, With Love” will showcase Roberto Coin, Marco Bicego, and other Italian brands.
![Zales teamed up with sporting goods brand Prince on a tennis-inspired capsule collection in time for the U.S. Open. Zales tennis necklace over Prince tennis racket](https://uploads.nationaljeweler.com/uploads/c5c7098b9ddeaf0e63349d0672c4c237.jpg)
The jewelry retailer will also have a diamond-set tennis racket on display at the tournament.
![Ylang 23’s new store in The Shops of Highland Park, an upscale shopping center in Dallas, features a fresh color palette and brand direction led by Alysa Teichman, co-owner of Ylang 23 and owner of its sister company, Wildlike. (Photo credit: Aiden Novalis) Ylang 23 Flagship](https://uploads.nationaljeweler.com/uploads/c03ca9bb25737b512c5bf5a830a58b3e.jpg)
The retailer has moved into a 3,200-square-foot space at The Shops of Highland Park.
![This rainbow sapphire tennis bracelet by Suzanne Kalan ($16,000) is one of 20 pieces in this Amanda’s Style File celebrating the September birthstone. Suzanne Kalan](https://uploads.nationaljeweler.com/uploads/ff66d3814adcd6425ba3f6e663156075.jpg)
The month’s birthstone is vibrant in every color.
![Swiss watchmaker Breitling is commemorating a milestone anniversary with the release of (from left) the Premier B19 Datora 42 140th Anniversary, the Navitimer B19 Chronograph 43 Perpetual Calendar 140th Anniversary, and the Super Chronomat B19 44 Perpetual Calendar 140th Anniversary. Breitling watches](https://uploads.nationaljeweler.com/uploads/9fbb8788ced16c6c9cff60eea51f3ace.jpg)
The special editions of the Premier, Navitimer, and Chronomat are equipped with a new perpetual calendar movement from the brand.
![K. Brunini Jewel’s Butterfly Ring](https://uploads.nationaljeweler.com/uploads/5ed707aef2a2b7a99417d2f15844f649.jpg)
Fly away with designer Katey Brunini’s butterfly ring, as its spring-loaded wings flutter above your fingers.
![Brilliant Earth’s showroom in Roosevelt Field mall in New York. The jewelry retailer has promoted Pamela Catlett to chief brand officer and Sharon Dziesietnik to chief operations officer. Brilliant Earth showroom Roosevelt Field mall](https://uploads.nationaljeweler.com/uploads/3e3176d4e721a73c59442cffd37b7942.jpg)
The jewelry retailer has a new chief brand officer and chief operations officer.
![Jewelers of America’s Multifaceted Learning Workshop is a one-day educational event featuring roundtable discussions on industry issues and expert-led sessions on topics like trends, artificial intelligence, and using social media to increase sales. JA Multifaceted Learning Workshop](https://uploads.nationaljeweler.com/uploads/7de06f346540e284dd87d3b7c8955de0.jpg)
Its next event will take place in D.C. on Sept. 17 and in New York City on Oct. 29.
![Lotus Gemology’s new book, “Broken Bangle: The Blunder-Besmirched History of Jade Nomenclature” is available now. Broken Bangle jade nomenclature book Lotus Gemology](https://uploads.nationaljeweler.com/uploads/5c518ff89158c1ebdbb69508d4a6251e.jpg)
“Broken Bangle: The Blunder-Besmirched History of Jade Nomenclature” is an in-depth look at the evolution of jade terminology.