Diamond Dealers Club Election Challenged in Court

The fractious intramural politics at the New York Diamond Dealers Club have spilled over to the courts.

The club’s former vice president, David Abraham, has asked the New York State Supreme Court to prevent four-term president Jacob Banda from serving an unprecedented fifth term.

Banda was overwhelmingly elected to a fifth term on Feb. 26. However, Abraham wants to nullify a Club referendum held on Dec. 4 that eliminated the bourse’s term limits, which had until then limited officers to four terms.

Abraham charges that the referendum was invalid because members who hadn’t paid their dues were allowed to vote. His affidavit claims a “voting card” he discovered offers proof that Banda lowered dues for some members in exchange for votes.

His affidavit further charges that Banda has tampered “with the voting binders and club financial records.”

Club officials declined comment. Abraham originally tried to block the Feb. 26 vote with an injunction, which was denied.