Millions stolen at global jewellery shows

Posted February 14, 2012 | By Aaron Weinman

Two men were arrested for selling counterfeit jewellery at a US jewellery show while another exhibitor was robbed of nearly $1 million in inventory.

Federal agents arrested two men and seized approximately USD$1 million (AUD$935,000) in counterfeit jewellery after receiving an anonymous tip from Homeland Security Investigations at the US Gem and Lapidary Wholesalers Show in Tucson, Arizona last week.

The two men, vendors at the Tucson show, were charged with selling an estimated USD$1 million in replicated goods from companies including Tiffany & Co, Chanel, Gucci and Hermes.

As reported in JCK Online, the vendors openly admitted selling counterfeit jewellery and sold the goods to undercover agents from the US Immigration and Custom Enforcement Agency.

The agents seized approximately 2,500 jewellery pieces and almost USD$35,000 (AUD$32,700) in cash from the two vendor’s booth in the Gem Mall Pavilion.

The suspects, who cannot be named yet, could face charges including fraud, counterfeiting, money laundering and illegal enterprise. They were released on their own recognisance (bail without payment) pending an indictment in the Arizona State Court.

Meanwhile, a gem dealer at the nearby Tucson Gem and Jewelry Exchange Show (GJX Show) reported almost USD$1 million (AUD$935,000) stolen following the fair last week.

Gem dealer Tammy Moreau of Sunstone Butte, an Oregon-based mining company, had her merchandise stolen from her trailer after the show at her Tucson motel.

The next morning she found the locks on her cases broken and merchandise valued at approximately USD$900,000 (AUD$840,000) missing.

With over 2,000 unique gemstones ranging from half carats to 100 carats missing, it was reported that Moreau was upset after working all summer to compile enough inventories for the GJX trade show.

“We worked hard all summer mining in order to come to the exhibit,” Moreau said. “It’s a shame, many of these pieces are one-of-a-kind stones.”

More reading:
Millions stolen from Baselworld diamond trader
Tiffany sues more counterfeit jewellery sites