Manashe Sezanayev, a diamond dealer in Manhattan's Diamond District, has pleaded guilty to charges related to the replacement of genuine diamonds with lab-grown stones. The plea follows an investigation that determined stones worth hundreds of thousands of dollars had been substituted with lower-value counterparts. Sezanayev admitted to grand larceny in the second degree on Thursday, as reported by the Manhattan District Attorney's office.
Sezanayev obtained genuine diamonds from merchants under the premise of a potential sale and replaced them with lab-grown stones. The substitute stones were inscribed with forged Gemological Institute of America (GIA) certifications to resemble authentic diamonds. He is set to be sentenced to five years of probation and has been ordered to pay $200,000 in restitution, which has already been paid, allowing the case to proceed toward resolution.
Details of Sezanayev's actions came to light in early 2024 at Rachel's Diamonds, his business in New York City's jewelry district. According to court records, the first reported incident occurred on February 5, 2024, when Sezanayev inquired about purchasing diamonds valued at approximately $185,000 and $75,000. During the weighing process, the genuine diamonds were replaced with synthetic ones.
On March 27, 2024, Sezanayev informed a second merchant that a customer was interested in purchasing a diamond valued at approximately $200,000. That same day, a lab-created stone was obtained, recut, and inscribed to resemble the high-value diamond. The merchant later identified the substitution after the transaction, determining that the returned stone was not the original natural diamond, as reported by the D.A.'s office.
The successful resolution of this case is credited to various parties, including Assistant D.A.s Minji Kim, Hope Korenstein, Kelly Thomas, and Kofi Sansculotte, among others. Special gratitude was expressed for the NYPD and the Gemological Institute of America for their critical roles in the investigation.
