Following the news that one of the rogue companies selling “investment diamonds” has been ordered into liquidation this week, Assay Office Birmingham’s AnchorCert Gem Lab has confirmed that it has fielded a string of enquiries and carried out a number of gemstone assessments during the past few years for people who have fallen victim of these fraudsters.
Some stones were found to be genuine gemstones but offered at massively inflated prices, whilst others were found to be not what they purported to be at all, as well as being massively over-priced.
In the case of the liquidated company, the Coloured Diamond Exchange, the stones sold were genuine but sold at hugely exaggerated prices. Hopefully this will be a warning to other players in this disreputable market. Typically these companies prey on older, vulnerable people, using pressurized cold calling to persuade them that investing their savings in “investment” Diamonds or Gemstones is a safe way of protecting and growing their savings.
AnchorCert have heard first hand many heart- rending stories from relatives of those who have been duped and applaud this latest action.
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