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Birmingham jeweler pleads guilty to wire fraud in diamond business

24 september 2020

News

Image credit: WilliamCho (Pixabay)

A Birmingham jeweler known for auctioning off, four years ago, a diamond engagement ring that once belonged to President Donald Trump former wife, pleaded guilty on 21 Sept 2020 to one count of wire fraud, as per media reports.
Joseph Gregory DuMouchelle, a 58-year-old jewelry buyer, auctioneer and appraiser, admitted to scheming by means of false promises and representations while doing business.
According to federal prosecutors, DuMouchelle began negotiating the purchase and sale of a diamond known as the “Yellow Rose” in late 2018. He pitched to a client that the client could purchase the diamond for $12 million and sell it for more.
Joseph Gregory DuMouchelle is scheduled for a January 2021 sentencing.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished

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