MANHATTAN, NY – Ten individuals were cuffed this morning in a sweeping takedown of a sophisticated diamond fraud ring operating in the heart of Manhattan’s famed diamond district. The group allegedly swindled wholesalers out of more than $9 million in a scheme built on deception and exploiting the industry’s reliance on trust. Two suspects, ALI JAVIDNEZHAD and NIZAMUDEN AKBARI, remain at large.
Acting United States Attorney Joon H. Kim announced the arrests alongside FBI Assistant Director-in-Charge William F. Sweeney Jr., Acting Director of U.S. Customs and Border Protection Leon Hayward, and NYPD Commissioner James P. O’Neill. The defendants – GODEL SEZANAYEV a/k/a “Gary,” MARK MULLAKANDOV, ALBERT FOOZAILOV, IMANIL MURATOV a/k/a “Eddy,” MANASHE SEZANAYEV a/k/a “Michael,” NATHAN ITZCHAKI, ARKADIY ISRAILOV, MARK NATANZON, SHOLOM MURATOV, and MENACHEM ABRAMOV – are accused of participating in a years-long conspiracy to obtain diamonds with no intention of paying for them.
“The twelve charged defendants allegedly participated in a global conspiracy to defraud diamond dealers out of more than $9 million,” Kim stated. “Centered in Manhattan’s diamond district, America’s busiest hub in the diamond trade, the defendants allegedly took advantage of an industrywide system of credit and trust to obtain largely untraceable diamonds, and then, using various allegedly illegal schemes, refused to pay.” All ten arrested defendants are expected to be presented before U.S. Magistrate Judge Andrew J. Peck this afternoon.
The investigation, spearheaded by the FBI-NYPD-CBP Joint Eurasian Organized Crime Task Force, revealed a calculated operation targeting wholesalers. The group specialized in acquiring small, “melee” diamonds – stones so tiny they lack the unique identifiers of larger diamonds, making them exceptionally difficult to trace. According to investigators, the scheme revolved around building credit with wholesalers, then utilizing tactics like bad checks, forged documents, and outright lies to secure diamonds without ever settling the accounts. The most common technique, dubbed the “bust out,” involved establishing trust before vanishing with the goods.
“Diamonds have value worldwide so it comes as no surprise that an alleged organized ring would target diamond wholesalers in Manhattan’s diamond district in a worldwide scheme,” said Sweeney Jr. “Using everything from forged documents to bad checks and tall tales, the group allegedly swindled more than $9 million from victim wholesalers.” NYPD Commissioner O’Neill echoed the sentiment, stating, “As alleged, these defendants bought nine million in untraceable diamonds with bad checks, forged documents, and long stories to perpetuate their scheme.”
U.S. Customs and Border Protection officials highlighted the importance of interagency cooperation in dismantling such criminal enterprises. “It is through interagency partnerships and collaborative efforts…that law enforcement successfully combats today’s criminal organizations,” said Acting CBP NY Field Office Director Hayward. The investigation remains ongoing as authorities seek to apprehend JAVIDNEZHAD and AKBARI and recover the stolen diamonds. The Grimy Times will continue to follow this case and provide updates as they become available.
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Key Facts
- State: New York
- Agency: DOJ USAO
- Category: White Collar Crime|Organized Crime
- Source: Official Source ↗
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