The investigation on the sale of diamonds by four banks has come back. There is a suspicion of the usual scam to the customers. But on gioiellis.com we talked about it already in 2016 … ♦
Big surprise, but only for those who do not follow gioiellis.com: the investigation on the alleged fraud in the sale of diamonds has also revealed victims, so to speak, very well known, such as Vasco Rossi, Federica Panicucci, Simona Tagli and Diana Bracco. The news is that, three years after what we had written, the Guardia di Finanza performed a preventive seizure of over 700 million euro. In the investigation, Banco Bpm, Banca Aletti, Unicredit, Intesa Sanpaolo and Mps are investigated.
It is worth repeating: buying a jewel, better than a well-known and listed Maison, can be a good investment in the long term.
But buying diamonds is stuff for specialists, not for savers, unless you have the knowledge necessary to properly evaluate the investment, perhaps by consulting the Rapaport tables.
Consob, the italian Authority that supervises on the affairs of the Exchange, has opened an investigation to determine whether the rules have been broken for what concerns the sale of diamonds. Under the lens are four banks that are listed. They are Intesa Sanpaolo, Unicredit, UBI Banca and Banco Popolare. In the focus is the sale of diamonds through bank branches. A broadcast survey on RAI-3 claimed that the stones would be sold to the public without proper information on the risks involved in investing their money in diamonds. Perhaps the author of the analysis follows gioiellis.com (this article was published in August 2016). The fact is that several Italian banks distribute the diamonds on behalf of diamond brokers: an unusual partnership, which generated about 300 million euro. It would also indicated that the official in one of the banks would have advised a customer to make the purchase of diamonds without specifying the risks and promising that the diamond would have an increase in value consistently above the rate of inflation in the long run.
A spokesman for Intesa Sanpaolo has admitted that diamonds were sold, but only to customers with a minimum net worth of 100,000 Euros. From the others bank, for now, there are only no-comment. The two main brokers operating through banks are Intermarket Diamond Business and Diamond Private Investment.
In a nutshell, a thing is to buy jewelry, which have a value for their shape, processing and for the brand that has designed them, another thing is put in a safe some carats. In this case, the risk can be very high. Federico Graglia