U.S. Department of the Treasury Announces Seized & Forfeited Diamond Auction

By: Rachel Lieberman, Israel Diamond Industry Portal

VSE Corporation and Rick Levin & Associates will conduct an auction of loose diamonds on behalf of the U.S. Department of the Treasury and the Internal Revenue Service, Criminal Investigation Division.

Up for auction are 605 loose diamonds that were seized during the investigation of a money laundering scheme in New York City’s Diamond District. One of the diamond dealers was convicted in a case involving dealings with Colombian drug traffickers. The proceeds from the auction will be returned to the IRS’s Criminal Investigations Division for the continuation of law enforcement efforts.

The auction will take place at 10 a.m. on Friday, March 20, 2009, at the New Yorker Hotel, in New York City. Registration will begin at 9 a.m. on the day of the sale.

Previews and registration will take place at the New Yorker Hotel at 481 8th Avenue & 34th Street, New York, NY on Wednesday, March 18 from 9 a.m. to 4 p.m. and Thursday, March 19 from 9 a.m. to 4 p.m.

For the orginal article, click here.

The founder and president of Diamond Cutters International, is one of the worlds top diamond experts, as well as a three-time Guinness Book record holder in jewelry design.
Fred The Diamond Guy
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