CrimeFeb 11, 2025
2 Men Charged With Selling Stolen Jewelry, Watches in NYC Diamond DistrictCrimeMar 04, 2025
NYC Diamond Dealer Pleads Guilty to Lab-Grown Diamond Swaps
Manashe Sezanayev pleaded guilty to grand larceny and is expected to receive five years’ probation when he’s sentenced in May.
Manashe Sezanayev of Queens, New York, who was accused of replacing three natural diamonds with lab-grown ones, has pleaded guilty to defrauding two diamond merchants.
New York—A dealer based in New York City’s Diamond District has pleaded guilty to defrauding two other diamond merchants by replacing natural diamonds with lab-grown ones, the Manhattan District Attorney’s Office announced last week.
On Feb. 27, 41-year-old Manashe (Mike) Sezanayev of Queens, New York, pleaded guilty in a New York State Supreme Court to one count of grand larceny in the second degree.
Sezanayev, the owner of Rachel’s Diamonds on 47th Street in Manhattan, was indicted last July in New York State Supreme Court on two counts of second-degree grand larceny and one count of first-degree scheme to defraud, which are both felonies, as well as three counts of third-degree criminal possession of a forged instrument, a misdemeanor.
His sentencing date is May 5, according to the DA’s office.
He is expected to receive five years of probation and to make restitution in the amount of $200,000, which Manhattan DA Alvin L. Bragg Jr. said has already been paid.
Related stories will be right here … On Feb. 27, 41-year-old Manashe (Mike) Sezanayev of Queens, New York, pleaded guilty in a New York State Supreme Court to one count of grand larceny in the second degree.
Sezanayev, the owner of Rachel’s Diamonds on 47th Street in Manhattan, was indicted last July in New York State Supreme Court on two counts of second-degree grand larceny and one count of first-degree scheme to defraud, which are both felonies, as well as three counts of third-degree criminal possession of a forged instrument, a misdemeanor.
His sentencing date is May 5, according to the DA’s office.
He is expected to receive five years of probation and to make restitution in the amount of $200,000, which Manhattan DA Alvin L. Bragg Jr. said has already been paid.
According to court documents and statements made on the record in court, last February, a diamond merchant brought two natural diamonds to Sezanayev’s office that Sezanayev claimed to be interested in buying, valued at approximately $185,000 and $75,000.
When Sezanayev turned his back to the merchant to weigh the stones, he allegedly swapped them for two lab-grown stones intentionally cut to mimic the natural stones, both fraudulently inscribed with Gemological Institute of America report numbers for natural diamonds.
According to court records, the next month, Sezanayev told another diamond merchant that he had a customer looking to purchase a diamond worth around $200,000.
Sezanayev purchased a lab-grown diamond re-cut to mimic the $200,000 natural diamond he claimed to be interested in, also inscribed with a fraudulent GIA report number.
He brought the lab-grown stone to a meeting with his alleged customer and the merchant, and while evaluating the natural stone, Sezanayev made the swap.
The merchant did not realize his natural diamond had been swapped for a lab-grown diamond until later.
The DA’s office said the $200,000 diamond was returned to the victim.
“Manashe Sezanayev is facing accountability for stealing diamonds from merchants and replacing them with fake stones,” Bragg said.
“We will continue to prosecute those who take advantage of consumers and conduct business deals in a dishonest manner.”
When Sezanayev turned his back to the merchant to weigh the stones, he allegedly swapped them for two lab-grown stones intentionally cut to mimic the natural stones, both fraudulently inscribed with Gemological Institute of America report numbers for natural diamonds.
According to court records, the next month, Sezanayev told another diamond merchant that he had a customer looking to purchase a diamond worth around $200,000.
Sezanayev purchased a lab-grown diamond re-cut to mimic the $200,000 natural diamond he claimed to be interested in, also inscribed with a fraudulent GIA report number.
He brought the lab-grown stone to a meeting with his alleged customer and the merchant, and while evaluating the natural stone, Sezanayev made the swap.
The merchant did not realize his natural diamond had been swapped for a lab-grown diamond until later.
The DA’s office said the $200,000 diamond was returned to the victim.
“Manashe Sezanayev is facing accountability for stealing diamonds from merchants and replacing them with fake stones,” Bragg said.
“We will continue to prosecute those who take advantage of consumers and conduct business deals in a dishonest manner.”
Editors' Picks
Sponsored by
More on Crime
The Latest
TrendsMar 04, 2025
Amanda’s Style File: Peaceful and Powerful AquamarineThe March birthstone pairs perfectly with hues of Mocha Mousse, Pantone’s Color of the Year for 2025.
ColumnistsMar 04, 2025
The Smart Lab: Using Online Events to Supercharge Sales Emmanuel Raheb shares strategies to prepare for, publicize, and engage the audience during events on platforms like TikTok and Zoom.
EditorsMar 03, 2025
Drop Necklaces, Archival Pieces Take Over at the 2025 OscarsFrom Doja Cat to Mikey Madison and Selena Gomez, many of this year’s Academy Awards attendees donned drop necklaces.
Brought to you by
Have a Plan for EmergenciesEmergencies can happen anytime, anywhere , and Jewelers of America has what you need to be prepared for it all.
Policies & IssuesMar 03, 2025
Customs Indefinitely Postpones Requirement to Disclose Country of MiningOriginally slated to take effect in April, official U.S. Customs and Border Protection documents now show the implementation date as “TBD.”
Weekly QuizFeb 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysMar 03, 2025
Consumer Confidence Fell in February Amid Concerns About the FutureThe recent jump in the prices of household staples, like eggs, and the potential impact of tariffs worried consumers.
Events & AwardsMar 03, 2025
AGA Now Accepting Applications for Its Gemological Education Scholarship The application period for the program is now open for aspiring gemologists around the world.
Brought to you by
A Diamond ETF is the Way to Reinvigorate Natural Diamond SalesThe jewelry industry faces challenges from lab-grown diamonds. A diamond ETF can restore natural diamonds' value and drive investor demand.
CollectionsFeb 28, 2025
Piece of the Week: Ironhorse Quillwork EarringsThe work of Indigenous designer Joe Big Mountain, these earrings are similar to the pair Lily Gladstone just wore to the SAG Awards.
AuctionsFeb 28, 2025
300-Year-Old Ring With Ties to Witch Trial Judge Up for Auction A metal detectorist uncovered the ring created in memory of Sir Richard Rainsford, who presided over some of England’s last witch trials.
Recorded WebinarsFeb 28, 2025
Watch: 2025 Jewelry Trends ForecastFine jewelry consultant and publicist Francesca Simons joins Amanda Gizzi and Natalie Francisco to discuss the trends set to rise this year.
TrendsFeb 27, 2025
Model Winnie Harlow Says ‘Yes’ to 3-Stone Engagement RingHarlow’s partner, NBA player Kyle Kuzma, worked with Vobara to design the ring, which features oval and pear-shaped diamonds.
MajorsFeb 27, 2025
Winona Ryder, Iman Star in New Pandora CampaignThe Danish jeweler released the next chapter of its “Be Love” campaign, which celebrates love in all its forms.
SourcingFeb 27, 2025
Gemfields Holds Mini Auction for Higher-Quality EmeraldsThe 13 lots on offer were comprised of material that previously went unsold at the miner’s November auction.
Events & AwardsFeb 27, 2025
JA to Host Workshop During Alabama Jewelers Association ConventionThe learning workshop and the convention are both scheduled to take place April 26 and 27 in Montgomery, Alabama.
Policies & IssuesFeb 26, 2025
EU Once Again Pushes Back Deadline on Diamond Traceability The EU, like the U.S., also now will require diamond importers to provide information about where exactly the diamonds were mined.
SourcingFeb 26, 2025
De Beers, Botswana Make New Diamond Sales Deal OfficialThe formal signing of the agreement comes nearly two years after De Beers and Botswana initially announced they had reached a new deal.
Events & AwardsFeb 26, 2025
JFC Names 2025 ‘Facets’ HonoreesThe charity will celebrate Pandora CEO Alexander Lacik and Brilliant Earth CEO Beth Gerstein at its annual event in Las Vegas.
ColumnistsFeb 25, 2025
Peter Smith: Here’s What I Think Retailers need to have the right merchandise, marketing, and people in place to stay on top in a sea of uncertainty, Peter Smith writes.
EditorsFeb 25, 2025
Out & About: Visiting Tacori’s New Shop-in-Shop Senior Editor Lenore Fedow traveled to Smyth Jewelers in Maryland to see the first of 15 revamped in-store boutiques Tacori is rolling out.
MajorsFeb 25, 2025
Qurate Has a New NameThe parent company of HSN and QVC is undergoing a restructuring.
CollectionsFeb 25, 2025
Michael B. Jordan Stars in David Yurman’s Spring CampaignThe company’s newest brand ambassador Eiza González will also be featured in the ads for the women’s campaign.
SourcingFeb 24, 2025
Colored Stone Market Update: Tracking Industry Trends in TucsonDeclining supply and growing demand persist in the colored gemstone market, presenters from Gemworld said at AGTA GemFair Tucson.
TrendsFeb 24, 2025
Renna’s Lobster Clasp Looks Like a Claw, Now It's Patented by LawThe designer’s new patent transforms the everyday clasp into her jumbo “Lobster Clasp,” modeled after the look of a crustacean’s claw.
Events & AwardsFeb 24, 2025
Bogolo Joy Kenewendo to Speak at Annual JVC LuncheonKenewendo, Botswana’s minister of minerals and energy, will discuss the future of diamonds.
SourcingFeb 24, 2025
Diavik’s Production Down 17% in 2024 Sales at the Rio Tinto-owned mine also slid by a double-digit percentage, falling 37 percent in a difficult market for diamonds.
CollectionsFeb 21, 2025
Piece of the Week: Jade Ruzzo’s ‘Tennessee’ Oval Drop EarringsHeidi Gardner, an SNL cast member, wore the smoky quartz earrings on the “SNL50: The Anniversary Special” red carpet on Sunday.
