Moti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.
NY Jewelry Wholesaler Pleads Guilty to $200M Ponzi Scheme
Gregory Altieri solicited millions from investors by promising falsely inflated returns from the purchase and resale of closeout jewelry, the U.S. Attorney’s Office said.
New York—A Long Island man has pleaded guilty to wire fraud for running a two-year, $200 million Ponzi scheme.
According to the U.S. Attorney’s Office for the Eastern District of New York, Gregory Altieri falsely promised high rates of return for investments in wholesale jewelry purchases.
Beginning in August 2017, Altieri solicited between $75 million and $85 million in investments in his business, LNA Associates, from more than 80 investors in New York City and elsewhere.
The U.S Attorney’s Office said he told these investors he would use their money to buy jewelry at closeout prices and resell it for a profit, yielding returns of between 30 and 70 percent within months.
Though he did initially purchase some jewelry with their money, beginning in about May 2018, Altieri started using money from new investors to pay earlier investors, telling the latter they were receiving their returns.
According to the office, he also used those “returns” to convince investors to keep their money with LNA by rolling it over into new investments and buying additional jewelry.
By January 2020, Altieri had stopped making payments to any investors and, based on the falsely inflated returns he promised, owed them about $200 million.
As part of his plea deal, Altieri also admitted to committing securities fraud in connection with the scheme.
His sentencing is scheduled for March 31. He faces up to 20 years in prison.
The Latest

Lichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.

The miner announced plans to recommence open-pit mining at Kagem.

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

Associate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.


Sponsored by Instappraise

CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.

Supplier Spotlight Sponsored by GIA

The brand’s first independent location outside of Australia has opened in Beverly Hills, California.

Cathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.

The company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.

Connecting with your customers throughout the year is key to a successful holiday marketing push.

Its commercial-quality emerald sale held last month totaled more than $16 million, up from about $11 million in September 2024.

National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.

Designer Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”

Expanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.

Located in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.

The episode about the family-owned jeweler will premiere May 17.

The Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.

The turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.

“The Duke Diamond” is the largest diamond registered at the Arkansas park so far this year.

The childhood craft of making dried pasta necklaces for Mother’s Day is all grown up as the 14-karat gold “Forever Macaroni” necklace.

Set with May’s birthstone and featuring an earthworm, this ring is a perfect celebration of spring.

“Bridal 2025–2026” includes popular styles and a dedicated section for quick pricing references of lab-grown diamond bridal jewelry.

Though currently paused, high tariffs threaten many countries where gemstones are mined. Dealers are taking measures now to prepare.

Located in Miami’s Design District, the 4,000-square-foot store is an homage to David and Sybil Yurman’s artistic roots.

May babies are lucky indeed, born in a month awash with fresh colors and celebrated with one of the most coveted colored gemstones.