GIA’s Problems, Continued

Since my last column, a great shroud of silence has fallen around the alleged bribery case at GIA. As of early February, no governmental authority has said a word; public press reports came and went with little apparent harm; the public at large seems unperturbed; and the trade hopes no further bungling occurs and no prosecutions are initiated. It's too early to say we have seen the worst of the problem, and some events may cause new headaches. GIA has dropped its fund-raising activities and eliminated preferential fees—two activities that were misconceived and that compromised the integrity of the process from the outset. Meanwhile, it doesn't help that a couple of counterfeit reports on large stones, which turned out to be treated or synthetic, were found in Antwerp, Belgium. No crook would create just a couple of counterfeits, so there are bound to be lots more. Are there new suit
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