The E-Sylum:  Volume 9, Number 11, March 12, 2006, Article 27

DIAMOND GRADING PROBE WIDENS

On a related note, the Wall Street Journal reported on March 8
that a probe into bribery allegations at the world's largest
diamond grader has widened:

"Last fall the Gemological Institute of America fired four
employees it accused of accepting bribes from diamond dealers
as part of an inquiry into inflating the grades of stones. The
GIA also severed ties with "a small community of dealers" that
it suspected of bribing GIA staffers with cash, theater tickets
and other gifts."

"The GIA won't say how many dealers it suspects of paying off
diamond graders, who judge diamonds on their lack of flaws and
absence of a yellowish hue."

"If the scandal is as widespread as some dealers believe, it
is conceivable that many consumers may have overpaid for their
diamonds."

  Wayne Homren, Editor

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