09.02.2012                      16.Schwat. 5772

Diamantenhandel:

Black-market probe plunges local diamond sector into chaos

A number of diamond traders' bank accounts have been frozen causing a chain reaction of bounced checks throughout the sector, said the senior figure in the diamond industry.

The Israeli diamond industry has seen a 70% drop in business in the past month, and the entire sector has been thrown into turmoil due to a police investigation into an illegal bank that operated near the Ramat Gan Diamond Exchange, said an industry source.
A number of diamond traders' bank accounts have been frozen and this has caused a chain reaction of bounced checks throughout the sector, said the senior figure in the diamond industry. A number of diamond firms have gone bankrupt in recent weeks, leaving $30 million in unpaid debts….