Beverly Hills Diamond Dealer Convicted of Fraud

There has been another successful prosecution for “memo fraud.”

Following a two-week trial, Beverly Hills diamond dealer Richard Maslin, 55, was found guilty on eight counts of grand theft embezzlement. According to Los Angeles deputy district attorney Allan Fork, Maslin received high-end jewelry to sell on consignment at his store on Wilshire Blvd. When his business ran into financial problems, Fork said, Maslin pawned the items.

Among the items he was accused of stealing was a 10-ct. loose diamond valued at $470,000, a diamond necklace valued at $510,000, and a pear-shaped diamond ring valued at $174,000. Maslin faces up to 10 years in state prison. He is due to be sentenced this month.