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Traders Sentenced for Bribing Antwerp Lab Worker to Inflate Color Certificates

Nov 15, 2015 8:56 AM   By Rapaport News
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RAPAPORT... Four diamond traders have received prison sentences for bribing an HRD Antwerp laboratory worker to award them inflated color-grade certificates, the Antwerp World Diamond Centre (AWDC) said in a statement.

The accused, whom the AWDC did not identify, fraudulently obtained documentation stating a higher color grade than their diamonds should have been awarded, enabling them to sell them for a significantly higher price than they were worth.

Antwerp’s Correctional Court handed down mandatory custodial sentences and “substantial” mandatory fines to the traders. The public prosecutor is submitting an appeal to enable another firm involved in the case to receive heavier sentences, the statement added.

AWDC CEO Ari Epstein said he was “pleased the court hands down very harsh penalties on these types of crimes.”
Tags: Antwerp, Antwerp World Diamond Centre, Belgium, certificates, crime, fraud, HRD Antwerp, Rapaport News
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