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Israeli Diamantaire Allegedly Flees With Millions
Feb 8, 2015 7:29 AM
By Ronen Shnidman
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RAPAPORT... An Israeli diamantaire has disappeared after allegedly taking millions of dollars from fellow Israel Diamond Exchange (IDE) members.
Daniel Shaked, a diamantaire from Kfar Saba, who is in his late 40s, is suspected of asking a number of individuals to partner with him in a speculative investment on a diamond supposedly worth $200,000, a source told Rapaport News.
The number of diamond traders allegedly conned by Shaked is still unclear with several IDE members stating that he took millions. The highest total figure of the alleged theft mentioned to Rapaport News was $8 million.
All diamond industry sources for this article requested anonymity given the sensitive nature of the allegations.
Multiple attempts to contact Shaked by phone at the phone numbers listed for his Israel office went unanswered. An attempt to call his jewelry store located on San Francisco's Market Street was met with an automated message from the local phone utility saying the number had been disconnected.
The last Israeli address listed on the website of Shaked's diamond company, Daniel Shaked Diamonds, is Suite 313 in the IDE's Diamond Tower in Ramat Gan. A visit to the purported office location revealed that no office with that number exists in the Diamond Tower.
This incident is not the first time Shaked has been on the receiving end of allegations of improper behavior. Beginning in 2007, Avnit Diamonds, a business partner and 40 percent owner of Daniel Shaked Diamonds, sought to dissolve its partnership with Shaked. Avnit Diamonds requested that Shaked return $660,000 of diamond merchandise provided to his San Francisco store and that he repay any outstanding debt after having been in business with Shaked for about a year.
The dissolution of the partnership dragged through arbitration and then district court proceedings for years, spawning claims and counterclaims. During the process, Avnit Diamonds accused Shaked of illegally transferring over $70,000 from the business partnership into his own private bank account.
The case was finally resolved in March 2014, when Shaked was ordered by an IDE arbitrator to pay all the money he owed to Avnit Diamonds in 10 installments.
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Tags:
con, crime, Daniel Shaked, Daniel Shaked Diamonds, disappearance, Ronen Shnidman, san francisco, theft
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