Tuesday, December 20, 2005

How Much Are Your Diamonds Worth?

The Wall Street Journal has a fascinating story here detailing recent happenings in the diamond industry. The title of the story tells it all "Diamond Industry Rocked By Allegations of Bribery."

The Gemological Institute of America (GIA) on its website here  states as its mission, "to ensure the public trust in gems and jewelry by upholding the highest standards of integrity, academics, science, and professionalism through education, research, laboratory services, and instrument development." 

On November 15th, a letter was sent to clients describing the ethics and compliance initiative at GIA. (see here) And in naming the chair at GIA, a recent press release stated here that:

"Following the recent independent investigation mandated by the Board of Governors, the names of those diamond dealers who may have violated GIA's Code of Ethics have been turned over to law enforcement officials. GIA notified these dealers that it will no longer accept diamonds from them for grading."



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Thanks for such a wonderful blog

Posted by: antique ring settings | Dec 15, 2009 2:34:40 AM

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