ColumnistsMay 26, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
EditorsJun 19, 2012
A little less conversation, please
Last night, the Diamond Manufacturers & Importers Association of America (DMIA) held a meeting in New York City covering what is undoubtedly one of the most talked-about topics among diamantaires today: synthetics. As I am sure many of you are...
Last night, the Diamond Manufacturers & Importers Association of America (DMIA) held a meeting in New York City covering what is undoubtedly one of the most talked-about topics among diamantaires today: synthetics.
While Monday night’s meeting began with what was a very interesting presentation by the Gemological Institute of America’s Tom Moses and Wuyi Wang, it ended with a question that I personally find even more interesting: What is going to happen to the company--a New York-based diamond company with ties to India--that allegedly submitted these stones to the grading lab in Belgium?
Will they be banned from the world’s diamond bourses or blacklisted in the industry in some other manner? Are criminal charges forthcoming in the case from law enforcement agencies in New York or Antwerp?
So far, the answers are unclear.
DMIA President Ronald Friedman said that here in New York, the DMIA will be “convening a meeting of interested parties,” including law enforcement -- which already has been contacted in the matter -- various industry bodies and the banks.
No date has been set but this meeting will take place “in the short term," he said.
Friedman added, though, that contacting law enforcement is not the only solution in this case. He said all industry players need to get involved, from manufacturers to banks to shippers to grading laboratories, and there needs to be a concerted effort to punish those involved, not just here but overseas as well.
“I see a softness internationally that’s very frustrating, and I see a lack of leadership internationally that’s very frustrating,” Friedman said.
It is my understanding that the federal police in Antwerp are looking into the matter. Friedman said there has been communication between Belgian authorities and those here in the United States, though it is not entirely clear at this point where exactly the fraud took place and, therefore, which law enforcement agency would have jurisdiction in the case.
I also was told by a separate source that India’s Gem and Jewellery Export Promotion Council (GJEPC) called the owner of the offending company into their offices to question him about what happened, and
he claimed to no longer be affiliated with the New York office that submitted the goods, a claim he has made previously. (A subscription is required to read this article.)
When I emailed the GJEPC to ask them about this meeting, I received no response.
Here in New York, the Diamond Dealers Club of New York has ignored numerous calls and emails from National Jeweler, though club President Reuven Kaufman did tell IDEX Online’s Edahn Golan that the DDC was “distressed” -- “profoundly,” nonetheless -- by the incident. It called for those involved to be “severely punished” by the bourses.
As Golan wisely points out in the fourth paragraph, as well as in this column, the DDC is not the first organization to release a statement calling for something to be done and, yet, not much has. Chaim Even-Zohar, the longtime industry journalist who broke the undisclosed synthetics story, issued a similar call in this recent subscription-required editorial.
In the wake of the scandal, the DMIA was among those organizations quick to shoot out a call-to-action news release. “It is unacceptable for industry organizations to sit idly by and pay mere lip service to problems and threats as they come to our industry, and industry leaders must be proactive and fearless in fulfilling their fiduciary responsibilities,” the DMIA said. “The commitment to criminal prosecution is mandatory in stopping this abhorrent behavior.”
Now it's time to see if the industry can put its words into action, both here and overseas.
When I emailed the GJEPC to ask them about this meeting, I received no response.
Here in New York, the Diamond Dealers Club of New York has ignored numerous calls and emails from National Jeweler, though club President Reuven Kaufman did tell IDEX Online’s Edahn Golan that the DDC was “distressed” -- “profoundly,” nonetheless -- by the incident. It called for those involved to be “severely punished” by the bourses.
As Golan wisely points out in the fourth paragraph, as well as in this column, the DDC is not the first organization to release a statement calling for something to be done and, yet, not much has. Chaim Even-Zohar, the longtime industry journalist who broke the undisclosed synthetics story, issued a similar call in this recent subscription-required editorial.
In the wake of the scandal, the DMIA was among those organizations quick to shoot out a call-to-action news release. “It is unacceptable for industry organizations to sit idly by and pay mere lip service to problems and threats as they come to our industry, and industry leaders must be proactive and fearless in fulfilling their fiduciary responsibilities,” the DMIA said. “The commitment to criminal prosecution is mandatory in stopping this abhorrent behavior.”
Now it's time to see if the industry can put its words into action, both here and overseas.
More on Editors
The Latest
Events & AwardsMay 26, 2026
12 JCK Talks Sessions to Add to Your Las Vegas ScheduleThe trade show’s education series returns, with sessions on retail trends, AI, watches, marketing, corporate responsibility, and more.
Events & AwardsMay 26, 2026
CBG Brings Its Curated Designer Project to Las Vegas ShowThe Curated Designer Project has expanded to highlight eight independent jewelry designers during CBG’s Las Vegas show.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
TrendsMay 26, 2026
Amanda’s Style File: A Cooldown Is ComingBring a cool tone to your summer jewelry with these white metal pieces.
Weekly QuizMay 21, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMay 22, 2026
Instore Buys JA New York ShowThe deal closed this week, which means Instore will produce the JA NY show slated to take place this fall.
FinancialsMay 22, 2026
Richemont’s Jewelry Brands Lead the Charge in Q4The company’s jewelry sales were up in Q4 and the fiscal year, with Richemont raising prices in part because of the cost of gold.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
CollectionsMay 22, 2026
Leigh Maxwell Celebrates 5 Years at Couture With ‘Bauble’ CollectionThe “Bauble” capsule collection of colorful one-of-a-kinds includes our Piece of the Week, the “Bauble” earrings, featuring rose zircon.
MajorsMay 22, 2026
Stuller’s New Packaging, Display Catalog Is Out The updated catalog has a newly dedicated section for gift wrapping.
PodcastsMay 21, 2026
Episode 5: Sotheby’s Frank Everett Puts the Auction Market in PerspectiveEverett covers colored stones’ surging popularity, the mellow return of the “Mellon Blue,” and his “The Devil Wears Prada” doppelgänger.
IndependentsMay 21, 2026
Springer’s Jewelers’ New Flagship Will Serve Next-Gen Luxury ShoppersFourth-generation CEO Lilly Mullen wants to emphasize experience, connection, and personalized service.
Events & AwardsMay 21, 2026
JA Announces Nina Pugliese Memorial ScholarshipThe new award, created in partnership with Henne Jewelers, honors the late designer’s legacy through supporting jewelry education.
SourcingMay 21, 2026
Botswana, Angola Join WFDBThe addition of the diamond-producing countries as nation affiliated members broadens the federation’s global representation, WFDB said.
CrimeMay 20, 2026
NYPD Warns of Jewelry Swap Scams Targeting SeniorsThe NYPD is warning elderly New Yorkers to keep their jewelry hidden when walking outside to avoid being a target.
IndependentsMay 20, 2026
Adornment & Theory’s New Store Feels Like Home Designer Viviana Langhoff has realized her dream of owning a space for her Chicago jewelry store that looks and feels like her brand.
Events & AwardsMay 20, 2026
Here Is Couture’s 2026 Education Lineup The sessions will run from Friday, May 29, to Sunday, May 31, with one being a live taping of an episode of Couture’s podcast.
Lab-GrownMay 20, 2026
Savannah Friedkin Jewelry Names New CEOFormer Stephanie Gottlieb Fine Jewelry executive Morgan P. Richardson is joining the lab-grown diamond jewelry brand.
WatchesMay 19, 2026
Here’s the AP x Swatch Pocket Watch That Caused PandemoniumThe $400 pocket watch is a blend of Audemars Piguet’s iconic eight-sided Royal Oak and Swatch’s unserious Pop watches from the ‘80s.
CollectionsMay 19, 2026
Chris Ploof’s New Collection Makes an Ancient Metal ModernWith gold prices on the rise, the “Modern Electrum” collection uses an alternative, non-tarnishing metal alloy composed of gold and silver.
IndependentsMay 19, 2026
Ellen and Michael Fruchtman Retire, Sell Marketing Agency Fruchtman Marketing has new owners, Erin Moyer-Carballea and Manuel Carballea, and will relocate to Miami.
ColumnistsMay 19, 2026
Peter Smith: The (Mostly) Immutable Sales TruthsIn a column for the 2026 State of the Majors issue, Smith lists 10 time-tested principles about sales that still ring true.
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
