CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 12, 2018
Examiner to Take a Closer Look at A. Jaffe, Firestar Case
The independent party is being appointed to examine the role, if any, Nirav Modi plays or has played in the companies’ Chapter 11 bankruptcy.
New York--A court-appointed examiner is expected to take a closer look at Nirav Modi’s ties to the U.S. companies he owns that are now in bankruptcy.
William K. Harrington, the U.S. trustee overseeing the bankruptcy case of A. Jaffe Inc., Firestar Diamond Inc. and Fantasy Inc., filed a memorandum requesting the appointment of an examiner to “provide … transparency and clarity as to the role, if any, Modi plays or has played with respect to these Chapter 11 cases,” court papers state.
Specifically, the independent party would investigate the relationship between the companies and any entity under the direct or indirect control of Modi to determine: whether and to what extent Modi or any of his entities have the ability to direct or influence the conduct, decisions or actions of A. Jaffe, Firestar and Fantasy in the Chapter 11 case; whether any current company executives “actively and knowingly participated in fraud or dishonesty;” and whether any claims or causes of actions in favor of the debtors might arise from any alleged fraud, court papers state.
A. Jaffe and Firestar Diamond/Fantasy filed for Chapter 11 bankruptcy protection in February in order to distance themselves from Modi and reorganize their businesses given that their main source of supply, Modi’s factories in India, has been cut off.
In the filing, the companies denied any involvement in Modi’s fraud in India, stating that they were working “tirelessly” to “reassure their vendors and customers that they had no involvement in the alleged wrongful conduct.”
RELATED CONTENT: Nirav Modi Case Is ‘Another Nail in the Coffin’Modi is the Indian diamantaire who is accused of cheating the state-owned Punjab National Bank out of nearly $2 billion, an allegation he has denied.
Modi left India shortly before news of his alleged fraud broke in January and Indian officials have been on the hunt for him since. This week, the Times of India reported that the billionaire is believed to be hiding in Hong Kong but authorities there have not given India’s Ministry of External Affairs any information about his exact whereabouts.
Harrington filed the request for appointment of an examiner on March 30.
Ian Winters, the attorney representing A. Jaffe, Firestar and Fantasy, said Wednesday that his clients have no objection to the appointment.
The judge is expected to enter the order for appointment Thursday. After that, the trustee will interview candidates and
select an individual for the position.
Winters said he does not expect the involvement of the examiner to impact the sale or the timing of the sale.
The current timeline for the sale or sales of A. Jaffe and Firestar Diamond/Fantasy Inc. calls for it to close by mid-May.
Winters said he does not expect the involvement of the examiner to impact the sale or the timing of the sale.
The current timeline for the sale or sales of A. Jaffe and Firestar Diamond/Fantasy Inc. calls for it to close by mid-May.
The Latest
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
