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Press Release: Court Acquits Omega Diamonds

Mar 16, 2015 7:23 AM   By Omega Diamonds
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Press Release: The Belgian court in Antwerp has fully acquitted Omega Diamonds and its former and current executives, employees and other defendants and ordered the Federal Public Service of Finances to pay the costs of the proceedings.

The court ruled that the legislation upon which the lawsuit was based is incompatible with European Union law to which all member states, including Belgium, are subject.

The Belgian Customs Authorities claimed that Omega Diamonds provided inaccurate information concerning the source and value of rough diamonds in its applications for import licenses.

The allegations were vigorously denied by Omega Diamonds and all other parties, relying on the fact that all shipments had been properly declared to the Custom Authorities, were accompanied by Kimberley Process certificates as required by law, and were physically inspected by the Custom's experts, an inspection which included examination of the rough diamonds' value as well as examination of other data.

It should be emphasized that the Belgian Customs Authorities have never accused Omega Diamonds, or any of the other parties, in any avoidance of customs duties, VAT or other levies, and accordingly, did not allege that Omega Diamonds or the other parties caused any damage to the Belgian economy. The Custom Authorities have also never claimed that Omega was involved in any trade of “blood diamonds.”

As aforesaid, the court in Antwerp fully acquitted Omega and all other parties and required the Federal Public Services to pay the costs of the proceedings. The Belgian Customs Authorities filed an appeal to the Antwerp's Court of Appeal. Omega's lawyers believe that Omega Diamonds has sound arguments for the first-instance decision being confirmed.

Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients. 

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