It was a pitch designed to dazzle: flip a small funding in pink diamonds into massive bucks by getting forward of a serious purchaser making an attempt to nook the market.
However prosecutors say it was little greater than a boiler room scheme that satisfied traders to maintain sending cash to purchase stones which will by no means have existed within the first place.
4 Canadian diamond sellers have been charged with allegedly operating a strong-arm, cold-call rip-off that cheated dozens of US traders out of tens of hundreds of {dollars} every with guarantees of massive returns on treasured stones.