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.
CrimeSep 14, 2017
Judge Dismisses Bank Fraud Charges Against Retailer
The time lapse between the original indictment against former Alpha Omega Jewelers owner Raman Handa and his arrest was too long, the judge said Monday.
Boston--A Massachusetts federal judge has thrown out a criminal case against a retailer charged with falsifying inventory documents to obtain bank loans.
Raman Handa, the former owner of seven-store Boston area chain Alpha Omega Jewelers who abruptly left the country as his business was crumbling, was arrested in February 2017 at the Los Angeles International Airport. Handa was returning to the United States from India, where he had been living for almost 10 years.
At the time of his arrest, a 2011 indictment was unsealed charging Handa with 12 counts of wire fraud, a February press release from the U.S. Attorney’s Office in the District of Massachusetts states.
According to the indictment, between May and December 2007, Handa experienced severe financial troubles and was having difficulty staying current with his bank loans.
In order to obtain more loans, the jeweler allegedly had fabricated inventory on reports--stating that he had high-end watches and jewelry from Indian vendors that the store never possessed--submitted to the banks, the indictment states. The banks used these reports to calculate the credit limit for the store.
In the midst of the financial melee, Handa and his family left the U.S. in December 2007.
After his departure, Alpha Omega’s lender took control of the company and conducted a detailed review of the retailer’s inventory, which revealed more than $7 million dollars in missing or unaccounted-for inventory.
The seven-store chain filed for Chapter 11 bankruptcy in 2008 and eventually shuttered.
In July, U.S. District Judge Rya W. Zobel threw out the 2011 indictment after Handa argued that the delay between the charges and his arrest--nearly six years--violated his Sixth Amendment right to a speedy trial, according to court documents.
The motion was granted on the basis that the government took too long in making its arrest. (In fact, the court said, Handa wasn’t even aware of the indictment until his arrest earlier this year.)
The government also had filed a superseding indictment in April, two days prior to the deadline for its brief responding to Handa’s Sixth Amendment argument. That indictment charged him with the same 12 counts, as well as one new count of bank fraud.
Handa moved to dismiss count 13 of the superseding indictment, for both violation of his Sixth Amendment right again in addition to the due process clause of the Fifth Amendment.
Judge Zobel allowed the motion on Monday, saying that the superseding indictment
suffers from the “same constitutional defects” as the first and rejecting the government’s argument that the length of delay should begin with its April filing rather than the initial 2011 indictment, thereby throwing out the entire case.
The Latest
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.
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.
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.
Weekly QuizJul 17, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
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.
IndependentsJul 17, 2025
Gina Ferranti of GiGi Ferranti Jewelry Dies at 59The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.
SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikProduction at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Events & AwardsJul 17, 2025
JA to Hold Learning Workshops This FallA new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.
SurveysJul 16, 2025
Signet Jewelers Falls Lower on NRF’s ‘Top 100’ Retailers ListThe middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
FinancialsJul 16, 2025
Richemont’s Jewelry Sales Up 7% in Q1It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.
WatchesJul 16, 2025
The Top-Selling Rolex Models of the Last 15 Years, According to Bob’s Watches The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.
AuctionsJul 16, 2025
Christie’s To Honor Dinh Van With ExhibitionThe auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.
IndependentsJul 16, 2025
Clyde Duneier Ushers In Fourth GenerationJake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.
CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s ImpermanenceThe “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.
MajorsJul 15, 2025
James Avery Expands to 2 More StatesThe Texas-based jewelry retailer has set up shop in Tennessee and Arizona.
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director Eric Ford will step into the role, bringing with him decades of experience.
MajorsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic ManufacturingIn addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone JewelryThe “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
SourcingJul 14, 2025
Ethical Gem Fair Heads to SeattleThe trade-only event will host its debut fair in the Emerald City later this month.
Events & AwardsJul 11, 2025
The Edge’s Annual Conference Returns in SeptemberIts sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.
CollectionsJul 11, 2025
Piece of the Week: Miseno’s ‘Arco’ EarringsFor its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.
