Crime

Man Found Guilty of Ordering 2004 Murder of Diamond Dealer

CrimeNov 22, 2017

Man Found Guilty of Ordering 2004 Murder of Diamond Dealer

Federal authorities say Hector Rivera paid two men $30,000 to kill diamond dealer Eduard Nektalov.

New York--Thirteen years after a Manhattan diamond dealer was shot dead in the middle of a crowded sidewalk on Sixth Avenue, the man accused of orchestrating his killing has been found guilty.

The U.S. Attorney’s Office for the Southern District of New York announced Monday that following a six-day trial in front of federal Judge Paul A. Engelmayer, a jury found 65-year-old Hector Rivera guilty of conspiring to commit murder for hire, murder for hire and using a firearm to commit murder.

On May 20, 2004, a diamond dealer named Eduard Nektalov, 46, was gunned down at the corner of Sixth Avenue and 47th Street at about 7:20 p.m.

According to the U.S. Attorney’s Office, the shooter--whom the New York Post identified in a 2014 article on Diamond District crime as a “drug-addicted ex-con” named Carlos Fortier--followed Nektalov from his family’s jewelry store, Roman Jeweler on 47th Street, and shot him once in the head and twice in the back.

Rivera, described by prosecutors as the leader of a violent robbery crew, paid Fortier and another man a combined total of $30,000 to kill Nektalov because of “a business dispute between Nektalov and one of Rivera’s criminal associates,” the U.S. Attorney’s Office said.

In 2003, Nektalov was one of about a dozen 47th Street jewelers arrested and charged in what federal authorities called “Operation Meltdown.” They were accused of laundering Colombian drug money via gold that they melted down into everyday objects, like belt buckles, that could then be smuggled out of the country.

According to a 2004 profile on Nektalov by New York magazine, he and his father, Roman, were two of the three suspects who did not plead guilty in the case. Nektalov’s murder took place about two months before his trial was slated to begin, though it was never made clear if the two were connected.

Rivera faces a mandatory sentence of life in federal prison. His sentencing is scheduled for April 11, 2018, before Judge Engelmayer.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

1872-x-1052-July-ad (2).png
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying Events

Sponsored by Stratus Estate Buyers

Blue Nile President Pamela Cloud
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue Nile

Cloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.

Paulo Garcia
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO

Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.

1872-x-1052-July-ad (1).png
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying Events

Retailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.

Etsy office Dumbo Brooklyn
MajorsAug 07, 2026
Etsy to Lay Off 12% of Workforce

Etsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.

Weekly QuizAug 07, 2026
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Syna Star Gazer Pendant
TrendsAug 07, 2026
Look Ahead with Syna’s Binoculars Pendant

The “Star Gazer” pendant, our Piece of the Week, is Syna’s tribute to curiosity and the discovery of something new.

Claire’s new piercing experience
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years

The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.

Brought-To-By-Article-Top-Image.jpg
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center Stage

Colored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.

Brilliant Earth Jane Goodall collection rings
FinancialsAug 06, 2026
Brilliant Earth’s Q2 Sales Up 6%, Driven by High-Income Shoppers

The retailer said it had its biggest Mother’s Day ever, with strong demand for higher-priced jewelry.

Handwork: Handcrafted Objects that Made America Book Cover
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry

“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.

Ani Khachian
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-Elect

The Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.

JCPenney storefront
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney Stores

Onyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.

The Roaring Jewel Martini
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K Martini

Solomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.

Benjamin Siegel of Hamilton Jewelers
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers

Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.

Bulgari San Diego Store Exterior
MajorsAug 05, 2026
Bulgari Opens Store in San Diego

The new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.

André Branch
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American Market

André Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.

Gemlok earrings
MajorsAug 04, 2026
Sasha Primak Acquires Gemlok

New York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.

Santana Now Unidad Collection Campaign Imagery
CollectionsAug 04, 2026
Musician Carlos Santana Launches Jewelry Brand

Santana Now's debut collection, “Unidad,” features symbolic motifs as well as pieces of wood from the Woodstock stage.

Stock image of a gavel and books
CrimeAug 03, 2026
Florida Man Gets 15 Years in Trio of Jewelry Store Robberies

The 50-year-old man pleaded guilty earlier this year to robbing two jewelry stores and a pawn shop of more than $700,000 in merchandise.

Spider-Man Citizen watch and pin on a web
WatchesAug 03, 2026
Citizen's New Spider-Man Watch Is a Collector’s Dream

The watch’s dial features an original design by Marvel comics illustrator Adam Kubert.

Chatham Men’s Collection Campaign Imagery
Lab-GrownAug 03, 2026
Chatham Releases First Men’s Collection

The new collection of lab-grown diamond and colored gemstone jewelry provides a “fresh perspective” on the category, Chatham said.

Pomellato Marvelous Griffe earrings
TrendsAug 03, 2026
Amanda’s Style File: Spinel vs. Peridot

While some August babies are team peridot, the month's time-honored birthstone, others are team spinel, the newer alternative.

Edina Kiss Popsicle Pendant and Karina Choudhrie Ice Cream Charm
TrendsJul 31, 2026
These Pieces of the Week Are Sweet

Edina Kiss’ “Popsicle” pendant and Karina Choudhrie’s “Ice Cream” charm satisfy that summer craving for a sweet piece of jewelry.

Macy’s Herald Square store sign
MajorsJul 31, 2026
Macy’s Iconic Red Shopping Bag Sign Torn Down

The massive billboard has been in the same spot on the department store’s Herald Square flagship store for decades.

Gemfields emeralds
SourcingJul 31, 2026
Gemfields’ H1 Revenue Jumps 72%

The miner’s ruby and emerald auctions brought in a combined $102.9 million.

Stock image of a polished diamond being held by tweezers
SourcingJul 30, 2026
De Beers Sale in ‘Final, Most Challenging’ Phase, Anglo CEO Says

The goal is for the De Beers sale to be finished by the second half of 2026, with the subsequent approvals process expected to take a year.

U.S. Trade Representative Jamieson Greer and Jewelers of America President and CEO David Bonaparte in Washington, D.C.
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect

David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy