Study Cites Money Laundering by U.S. Diamond Jewlery Retailers
May 25, 06 by Chaim Even-Zohar“FinCEN regulations powerless to stop illegal international gem trade,” notes a scary headline of an article written by Professor John Zdanowicz, Ph.D. that is featured in an authoritative money-laundering... Read More...
Further Franchising the Name “De Beers” and Changing the De Beers LV Business Model
May 18, 06 by Chaim Even-ZoharIt all started when De Beers, which for legal reasons couldn’t go downstream and operate its own jewelry retail stores, entered into a 50/50 percent joint venture with... Read More...
GIA: Paying “Money For Nothing”
May 11, 06 by Chaim Even-ZoharHas the GIA fallen victim to an enormous hoax? Months of investigative journalism by this author have revealed several facts that ostensibly contradict material assertions made by plaintiffs in the now-settled lawsuit in the Supreme Court ... Read More...
Rough Times Ahead
May 04, 06 by Chaim Even-Zohar“The underlying business is okay, it’s just that the mood in the business is so negative,” remarked an executive of one of the rough producers a few days ago. For one moment, I wondered whether he and I were looking at the same business at the same point in time. We’ve all been conditioned for... Read More...
De Beers at the Mall of the Emirates
April 27, 06 by Chaim Even-ZoharMost foreigners know the Mall of the Emirates in Dubai as the desert hotspot that houses an authentic year-round ski slope with actual snow (though the snow here seems to be missing some of the characteristic softness one finds in the Swiss Alps). This week the Mall got a new attraction - De ... Read More...
Canadian Diamond Anti-Money Laundering Rules In-The-Making
April 20, 06 by Chaim Even-ZoharOne of the world’s larger diamond producers, Canada, may soon announce anti-money laundering and anti-terrorism financing diamond and jewelry industry rules that may well be more demanding than that of its southern neighbors. The Canadian government seems to hold rather... Read More...
Rough Diamonds’ Fatigue
April 12, 06 by Chaim Even-ZoharIf rough diamonds were human beings, they would suffer from travel fatigue. Last week, we mentioned the 35 million carats that had to make a stop in Dubai before being moved mainly back to Europe or onwards to India. The more interesting in-between stop for rough diamonds is, of course, the United Kingdom. Read More...
Dubai Topped $10 Billion in Diamond Transit Trade in 2005
April 06, 06 by Chaim Even-ZoharPolished and rough diamond transit trade through the world’s premier diamond offshore jurisdiction exceeded even the wildest expectations in 2005. Combined imports and exports totaled $10.59 billion. In carat terms, the figures are truly staggering: the combined turnover... Read More...
Revisiting the Rihga Hotel
March 30, 06 by Chaim Even-ZoharLast week’s column about the absolute imperative for GIA management (President Bill Boyajian and others) to resign (which is always nicer than getting fired) evoked quite a few reactions. One recurring response was, “Why are you referring or hinting to certain information without actually giving it? Give some new facts... Read More...
Bill Boyajian’s Fall From Grace
March 23, 06 by Chaim Even-ZoharIf the credit committee of the Bank of Public Opinion (BOPO Bank) were to meet to review the credit given a few months ago to GIA chairman Ralph Destino to bring about the needed reforms and “to clean up” the GIA, the committee’s conclusion would likely be that Destino has been rather good on taking a wide range... Read More...
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