Waldman Diamond Investments Company Calls Attention To Fraudulent Use Of Its Name, Reputation And Products

Screenshots of fraudulent website shown and attached

by Ya'akov Almor

(WireNews+Co) - Ramat Gan, Israel - 06 February 2013

It has come to our attention that a website has been set up using the name ‘Waldman Diamond’ and purporting to offer investment diamonds to the general public. We have investigated the website and it is clearly a scam, set up to mislead gullible people into making online payments, and passing itself off using the name ‘Waldman’ in order to appear credible. We have informed the authorities of this attempted fraud and trust that this fake site will soon be taken down.

Waldman Diamond Investments (WDI) was set up by the Waldman Diamond Company in 2011 to offer certified investment-grade clear diamonds through its worldwide network of Authorized Brokers. Gems currently available for purchase are listed on the Waldman Investment Diamond Exchange, including the GIA Diamond Grading Report description of each stone. WDC’s expert gemologists in our offices around the globe can advise investors by explaining the properties of specific stones and the terms used in the GIA Diamond Grading Report.

In light of the complexity of the diamond market, we discourage individuals from buying diamonds directly. WDI only sells investment diamonds through our Authorized Brokers and through institutional buyers, such as banks and family offices.

Waldman recently commissioned an investigation of diamond prices by Ernst & Young, which confirmed that the 1c, 2c and 3c diamonds offered for sale by WDI are competitively priced relative to both the wholesale and retail markets. This is only possible because of the Waldman Group’s ‘global reach’ and involvement at every stage of the diamond pipeline, which enables our companies to obtain and offer high-grade diamonds at competitive prices.

CEO Alex Waldman explains: “Alongside our thriving international jewelry and polished diamond wholesale businesses, we remain committed to developing our cutting-edge diamond investment platform. At every stage of our business we adhere to the highest standards of transparency and integrity, for which the Waldman Diamond Company is known and respected worldwide. We sincerely hope that individuals will not be misled by this scam website that trespasses on our good name.”

For further information or to report any similar scams or fraudulent businesses that purport to be associated with the Waldman Diamond Company, please contact Group CFO Mr. Gershon Seymour at gershon@wdcgroup.com (http://www.wirenews.co/mailto:gershon@wdcgroup.com).

The Waldman Diamond Company remains committed to corporate social responsibility and the sustainability of the diamond industry and the planet. All diamonds handled by the Waldman Group are conflict-free. We also take the Kimberly Certification Process one step further through our transparency about the origin of each diamond.

Many of the diamonds that we sell are mined in Canada’s Arctic region in the Diavik and Ekati mines, where every effort is made to enhance the environmental, social and economic benefits of the industry and to reduce the adverse effects of mining.

Waldman diamonds have been chosen by society jewelry designer Ivanka Trump for her Sustainable Jewelry range, which comprises 100% sustainable Canadian diamonds and recycled platinum, which is being promoted to encourage environmental consciousness among jewelry purchasers.

In the same spirit, WDC’s Complete Jewelry division has created an eco-friendly jewelry range, using not only ethically sourced diamonds of Canadian origin, but also sustainable precious metals that have been refined and recycled, in order to reduce the ecological and social costs of mining metal ores.

Our jewelry is produced using wax casting and without the use of toxic acids or sodium cyanide, in order to reduce damage to the environment and danger to our workers. Our marketing and packaging materials are produced using recycled paper and scrap-card boxes wherever possible.

We encourage all our business partners to share our commitment to these principles and the other values expressed in the WDC Covenant (http://www.wdcgroup.com/about/our-covenant/).