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Yesterday

Russia’s export legislation is like a log on the road making it difficult to drive through

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11 march 2019

Botswana mum on new demands as negotiations with De Beers draw closer

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04 march 2019

DLX-jewellery will focus more on colour stone designed pieces as well as diamond jewellery sets going forward - Jack Chen, General Manager, DLX-Jewellery

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18 february 2019

Smuggled SA diamonds might have funded Brexit campaign

24 december 2018

news_24122018_banks.pngAnti-corruption bodies are to question Arron Banks, who owns diamond productions in African countries, over allegedly smuggled rough diamonds out of South Africa, according to the Guardian.
The accuses are based on the evidence presented by the Forensics for Justice team headed by fraud investigator Paul O’Sullivan, who said that they had received an email from Banks, which was destined for his former business partner Chris Kimber.
The email says, “Chris, can you bring over a certificate for the diamond I took back – have you got any blanks!!! Was looking at getting it cut but need the paperwork…A.”
The Guardian cited the Observer that reported that the National Crime Agency, which is probing Banks on the 8 million pounds donation to a Brexit campaign. However, Banks said that all the allegations that the money came from South African businesses had no grounds.
According to the report, the price of the smuggled diamond was of about $40,000 in its rough form and if the businessman had declared the stone he would have payed a 15% tax.
The source of the diamond remains unclear as the diamond doesn’t have a “Kimberley Process Certificate” saying that the stone was mined in a legitimate mine, though it is believed that the gem comes from one of the productions that belong to Banks.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg