A diamond dealer in Manhattan, previously convicted for gemstone fraud, was charged on Thursday for allegedly swindling fellow merchants out of nearly $460,000 by replacing their real diamonds with lab-grown imitations.
Manashe Sezanayev, 41, allegedly lured reputable dealers to his store in New York’s diamond district earlier this year, posing as a buyer interested in authentic diamonds. During inspections of their merchandise, prosecutors claim he stole three diamonds valued at $460,000, substituting them with replicas that were cut and inscribed to resemble the originals.
“Diamonds are forever, but this alleged scheme was short-lived,” remarked Manhattan District Attorney Alvin Bragg in a statement.
Sezanayev pleaded not guilty to charges including grand larceny, scheme to defraud, and criminal possession of a forged instrument.
“My client is presumed innocent and awaits his day in court,” said his attorney Boris Nektalov.
In 2017, Sezanayev was part of a group charged with defrauding diamond wholesalers of $9 million. He served one year in prison after pleading guilty and was ordered to pay $510,030 in restitution to a victim.
The recent allegations involve incidents in February and April this year, where Sezanayev purportedly swapped real diamonds worth $185,000 and $75,000 with fake ones bearing counterfeit inscriptions from the Gemological Institute of America. Prosecutors also accuse him of attempting a similar scam on another merchant two months later, substituting a $200,000 diamond with a lab-grown replica.
