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JSA: NYC diamond firms warn of suspicious letters

November 26, 2008

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New York--The Jewelers' Security Alliance (JSA) is telling industry members to be wary about suspicious inquiries after two New York-based diamond companies received letters from alleged independent private jewelers who claimed to be seeking a diamond supplier.

According to the alert, within the span of a few days, one of the firms received at least five letters with nearly identical wording signed by five different individuals from locations all over the country: Canton, N.Y.; Shreveport, La.; Dousman, Wisc.; Pensacola, Fla. and Chicago.

The alleged "independent jewelers" requested a current inventory list, and any applications required to begin a business relationship, according to the alert.

The "jewelers" also offered to sell the companies goods that they had purchased from local clients. Instead of responding to the letters, the companies asked the JSA to bring the letters to the attention of the diamond industry.

The JSA recommends players in the jewelry industry be wary of the possibility of fraudulent offers from unknown and unsolicited customers, especially in these difficult economic times.
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