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. Abra

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).


Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out