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RapNet Suspends Members Suspected of Falsifying GIA Reports
Oct 29, 2015 2:18 AM
By Rapaport
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RAPAPORT... RapNet, the Rapaport Diamond Trading Network, has suspended 10 members pending further investigation. The members have also been suspended by the Gemological Institute of America (GIA) for allegedly participating in a scheme that hacked into the GIA’s computer system and upgraded 1,042 GIA grading reports. GIA issued laboratory alerts invalidating the grading reports and naming the suspended members.
RapNet has removed all diamonds with grading reports involved in this matter as well as all other diamonds listed by suspended members. Additional updated information and a list of all the diamonds and the companies that submitted them is available at http://goo.gl/TEF66F.
GIA has asked anyone in possession of the listed diamonds or invalidated grading reports to immediately return them to GIA. Rapaport clients may return the grading reports and diamonds to Rapaport offices in New York, Ramat Gan, Mumbai and Hong Kong.
The names of the suspended Rapnet Members are:, A. Lallubhai & Brothers, Admg Diamonds Pvt. Ltd, Darshna Gems, Dirgh Diamond Pvt. Ltd., Mahima Gems, Nidhi Impex, Pansuriya Impex, Shree Yogeshwar Gems, Sitaram Gems and Unity (HK).
RapNet, is the world’s largest online diamond trading network. With daily listings of over 1.2 million diamonds valued at $8.2 billion, and 14,125 members in 88 countries, Access is limited to members of the diamond and jewelry trade. RapNet is available in English, Chinese, Gujarati, Japanese, and Spanish. Join RapNet at www.rapnet.com.
The Rapaport Group is an international network of companies providing added value services that support the development of fair, transparent, competitive and efficient diamond and jewelry markets. Established in 1978, the Rapaport Price List is the primary source of diamond price and market information. Group activities include Rapaport Information Services, Rapaport Magazine, and Diamonds.net, providing research, analysis and news; RapNet – the world's largest diamond trading network; Rapaport Laboratory Services provides GIA gemological services in India, Belgium and Israel; and Rapaport Trading and Auction Services specializing in recycled diamonds and jewelry. The Group supports over 20,000 clients in 118 countries and employs 220 people with offices in New York, Las Vegas, Antwerp, Ramat Gan, Mumbai, Surat, Dubai and Hong Kong.
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Rapaport Media Contacts: media@diamonds.net
U.S.: Sherri Hendricks +1-702-893-9400;
International: Gabriella Laster +1-718-521-4976;
Mumbai: Manisha Mehta +91-97699-30065
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Tags:
A. Lallubhai & Brothers, Admg Diamonds Pvt. Ltd, certification, Darshna Gems, Dirgh Diamond Pvt. Ltd., GIA, grading, Mahima Gems, Nidhi Impex, Pansuriya Impex, Rapaport, RapNet, Shree Yogeshwar Gems, Sitaram Gems and Unity (HK)
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