PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Jeweler in Ala. gets 3 years for money laundering
A jeweler who pawned a diamond he reported stolen and was found with a stockpile of weapons in his Alabama home will spend the next several years behind bars.
Birmingham, Ala.--The former owner of Denman-Crosby in Mountain Brook, Ala. was sentenced to three years and nine months in prison for pawning a 3-carat diamond he falsely reported stolen and illegally possessing nearly 100 guns.
The U.S. Attorney’s Office for the Northern District of Alabama said Wednesday that 65-year-old Joseph Harold Gandy was sentenced in front of a federal judge on one count of money laundering for pawning property worth more than $10,000 that was obtained through a criminal act. The criminal act in this case, prosecutors said, was wire fraud, which he committed when he submitted an insurance claim on diamonds that weren’t actually stolen.
Gandy also was sentenced on one count of being a convicted felon in possession of a firearm after a search of his Vestavia Hills, Ala. home turned up 99 weapons. He was prohibited from owning weapons because of a 1989 federal mail fraud conviction.
According to court documents, Gandy’s case got its start back in 2004, when he had $2.8 million in jewelry and loose diamonds in his store on consignment from dealers in New York and elsewhere for a holiday sale.
He reported that two men robbed his store and took all the goods, and his insurance company paid out $2.6 million, his policy limit.
Gandy held onto the merchandise for nearly a decade. Then, in 2013, he began sending a friend to jewelry stores in Jefferson County, Alabama to pawn the diamonds that allegedly had been stolen nine years prior.
The two were stopped cold in their first attempt, in July 2013, when the jeweler to whom they were trying to sell a 1.59-carat diamond demanded documentation, court documents state.
However, Gandy and his partner in crime had better luck later that year.
After examining about a dozen diamonds to make sure they didn’t bear any inscription, Gandy had his friend sell a 3.01-carat emerald-cut diamond, receiving a $12,000 loan from the store where he sold it.
The pair also disposed of a 3.45-carat cushion-cut diamond for $8,000 and a 2.16-carat round diamond for $2,000, and Gandy gave his friend nearly $4,000 for making the transactions. All three stones were on the stolen inventory list Gandy submitted to the insurance company.
Gandy was charged in October and pled guilty the following month. He was sentenced as part of a binding plea agreement with federal prosecutors.
He also must
The Latest
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.