WORLD NEWS TOMORROW – Judicial authorities in Antwerp are investigating a diamond swindle that has been fooling traders worldwide and is putting doubt in the minds of buyers, De Tijd reports. A specialized lab in Antwerp has discovered that about 600 diamonds recently sold were fakes. Even experienced traders could not tell the difference.
The International Gemological Institute has warned laboratories worldwide, explaining the damage that fakes cause to the integrity of the trade. The discovery of the fakes happened by chance – traders normally do not send stones of less than 0.30 carat (as is the case here) to a lab but examine them themselves.
DiaLab Pty Limited South Africa were the first to discover these fake diamonds in 2009 , but was widely discredited by the diamond industry and nobody wanted to pay attention. Now it is costing the Belgium Government billions in losses.
Baron Baretzky warned that this would become an issue of great concern in an article that appeared in mining weekly in South Africa in 2009