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Monday, 26 August 2013

Diamonds can be for never – don't be duped!

Diamonds aren't necessarily an investor's best friend!

'Fraudsters used 'sucker list' to sell fake diamonds to victims with marks-ups of 2,800 per cent to fund luxury lifestyle in Marbella
• Gems dealers made £1 million duping investors into buying diamonds
• All the gems had been purchased out of a mainstream diamond catalogue
• Gang, due to be sentenced next week, added mark-ups of up to 2,800%
• One retired victim used his life-savings to buy gems for £140,000 but they were only worth £10,000'

Report in the Daily Mail of recent fraud trial at The Old Bailey involving diamonds with fraudsters now facing jail while investors have lost life savings. Sentencing on 27th September. Read rest here.  

See also report in Eastbourne Herald

Wine investment scams often linked to offers of 'investments' in diamonds, biofuels, carbon credits, plots of agricultural land on promise of rezoning etc. 

Also beware of companies, like Ethical Elegance Ltd, offering to swop assets such as wines for coloured diamonds.


  1. Jim,

    So you (and the other readers on the blog) are aware, there is a company called 'ethical elegance' who have been contacting a number of people holding Bordeaux wines, offering them over-inflated prices (i've heard of quotes 50+% above the mid-market level) to sell their wines, in order to reinvest into other assets like diamonds. They also make some interesting claims on their website regarding the performance of 'Fancy Coloured Diamonds'.

    It would seem that they are contacting former Vinance clients, many of whom have already lost out when the company folded and these may be at risk of further losses if they enter into some agreement to diversify with ethical elegance.

  2. the following company is swapping diamonds for wine and hoodwinking there clients
    ethical elegance

    there address on show is that of a company formation agents .... smells rotten