New Mineral Named After GIA’s John Koivula
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 Post subject: The Investment Scammers are back
PostPosted: Fri Sep 23, 2011 9:51 pm 
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Had a gent come in yesterday with three oval fancy naturel yellow diamonds; from 0.40 carat to 0.47 carat.He had purchased them from an investment company to round out his portfolio. They were each accompanied by GIA documents and each was individually sealed in a plastic container that was glued to the GIA report.
He wanted to know if they were worth what he paid. I showed him a wholesale price list: worth about $3,700.00 total combined.
He said he paid $11,000.00 and was told they were worth much more. Said he had 10 days to get his money back. "Did you pay with a credit card?" I asked. Nope, he wired them the money.
I asked where he thought he would sell them when it came time to realize thier investment potential..."a jeweler" was his answer.
Its been a long time since I have seen this type of scam.
Good luck, and so sorry Charlie.


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 Post subject: Re: The Investment Scammers are back
PostPosted: Fri Sep 23, 2011 11:32 pm 
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Wheeeeeeeeeeeeeeeeeeeeew!

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 Post subject: Re: The Investment Scammers are back
PostPosted: Sat Sep 24, 2011 10:49 am 
As they say, 'There's one born every minute'......


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 Post subject: Re: The Investment Scammers are back
PostPosted: Sat Sep 24, 2011 11:00 am 
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yup ... as the sign said "See the Egress 25 cents this way"

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 Post subject: Re: The Investment Scammers are back
PostPosted: Wed Apr 18, 2012 4:57 pm 
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I had the same thing the other day. A customer came in with a 1.51ct cushion cut fancy yellow diamond wanting a report check and to see how much the diamond would be worth fair market value. The receipt he showed me was almost double the value I came to, he then showed me an appraisal that showed the value to be twice what he paid for it. He had purchased the stone from an investment company that deals in diamonds, gold, and silver. He said he had 30 days to get his money back and that he was going to call them. The next day I received a phone call from a furious screaming man who I am assuming was the broker that sold him the "investment". I simply told him that I don't think that these diamonds are a good investment for the average person. I mean, if you have buckets of money you can invest in whatever you want but these brokers are talking people into taking out loans and transferring their RRSP`s into diamonds. Am I wrong?


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 Post subject: Re: The Investment Scammers are back
PostPosted: Thu Apr 19, 2012 2:58 am 
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This type of cams seems to be showing up with intervals of 20 to 25 years. Same "s-h-i-t" was going on here in Scandinavia in the late 80's as far as I can remember. Just a matter of time before they show up here again. *Sigh*

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 Post subject: Re: The Investment Scammers are back
PostPosted: Thu Apr 19, 2012 8:41 pm 
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http://www.cnbc.com/id/47065856

All helped along by articles like CNBC's "Are Diamonds the New Gold for Individual Investors?"

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