DMIA Responds to Press Criticism

October 26, 2005

DMIA Responds to Press Criticism

The Diamond Manufacturers & Importers Association of America responded strongly to statements in the press questioning its lack of involvement in the Gemological Institute of America's independent review of the GIA Gem Trade Laboratory, which led to resignations and firings in recent weeks. "The DMIA would like to set the record straight. Over the last two months, [it] has been fully engaged in both executive board meetings and member meetings to share concerns and formulate ideas to convey to GIA. In each case, these meetings were followed up with direct meetings and discussions with the management of the GIA."

DMIA continued: "The recent announcement by the GIA and its Board of Governors is a first step towards ensuring credibility in the GIA Gem Trade Laboratory and its grading reports. [GIA's] board of governors, comprised of well-respected and honorable members from industry, education, and banking, is aware of their fiduciary responsibilities. The DMIA is confident in their taking action and glad to see that the board of governors is moving forward.

"We have been led to believe that there will be more changes coming, and expect that everything possible will be done to ensure that there is a level playing field for all when it comes to laboratory grading. Of course, this applies to all labs equally.

"Corruption is never acceptable. Once discovered, it must be eliminated. Once identified, it must be prosecuted to the fullest extent of the law for all involved. Industry organizations, as well as producers, financial institutions, and retailers must be committed to stand up and take appropriate action.

"The DMIA remains actively engaged and dedicated to furthering and promoting the utmost integrity of the diamond industry. For this reason, to those that make assumptions that our organization is not actively involved due to the fact that no public communication is seen or heard, be advised that we have been and continue to be at the forefront of all industry issues."

Sign me up for