GIA Scandal Makes News Again

A long-awaited third story from the Wall Street Journal on the Gemological Institute of America lab scandal appeared in March—but the story contained little that was new and was not the earthquake many had feared. The most tantalizing nugget was its report that GIA had banned “three more prominent dealers,” whom it did not name. (GIA won’t name them, either.) But otherwise there was little fresh news in the article, despite considerable legwork from reporter Ann Zimmerman, who even showed up at the office of a GIA official who left under a cloud four years ago. Still, the article was hardly boffo public relations for the industry; at one point it noted, “If the scandal is as widespread as some dealers believe, it is conceivable that many consumers may have overpaid for their diamonds.” In a statement issued following the article, GIA said it “wants the diamond and jew
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