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SODIAM employees nabbed for swapping diamond parcels

18 june 2020
Several SODIAM employees were arrested and arraigned before court in Angola’s capital after they allegedly swapped diamonds in parcels already sold and ready to be dispatched to customers.
Sources in Luanda told Rough & Polished that the accused allegedly replaced expensive stones with cheaper ones.
Rough & Polished contacted SODIAM for a comment and it was yet to respond at the time of publication.
Angola had of late been revamping its diamond trading system.
It introduced new diamond sales modalities such as sale by contracts (sights), tenders and spot.
The diamond sales are conducted through the state diamond trader, SODIAM.
SODIAM revealed earlier this year that 12 purchase and sale contracts had been signed since last year, including four polishing factories.
The contracts were valid for two years and will remain in force until the end of the first half of 2021.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished