December 2, 2005
DDC Urges GIA to Release Names
The Diamond Dealers Club's board urged Tom Moses, the Gemological Institute of America's senior vice president of the laboratory and research divisions, to make public the names of the people involved in the GIA Lab's investigation, so DDC could discipline members of the trade involved in grading irregularities.
During a two-hour meeting, DDC's board told Moses of the potential harm done to the industry by the individuals involved in the events that prompted the investigation. Moses told the board GIA was taking all necessary steps to secure the integrity of the grading process.
In a release, the DDC board said, "promoting industry integrity must be a continuing objective that requires the cooperation of all segments of our trade." It's urging DDC members to report to the organization, in writing, any information on the improper grading of diamonds. The information will be forwarded for action to GIA and other officials and used to discipline members of the trade involved in grading irregularities.
The board indicated it was studying the possibility of securing compensation for damages caused by activities involved in the illegal grading of stones. It also expressed an interest in doing so to ensure that such a practice does not again occur.