Michigan Jeweler Pleads Guilty to Wire Fraud

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PinkDiamond
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Michigan Jeweler Pleads Guilty to Wire Fraud

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Although it doesn't happen very often, thankfully, it's difficult to understand how people who do things like this expect to pull it off without getting caught. :?

Michigan Jeweler Pleads Guilty to Wire Fraud
By Brecken Branstrator
brecken.branstrator@nationaljeweler.com
September 16, 2020


"Detroit—Michigan jeweler and auctioneer Joseph DuMouchelle has pleaded guilty to wire fraud in a multi-million-dollar diamond scheme that involved a 77-carat diamond known as the “Yellow Rose.”

DuMouchelle, owner of Joseph DuMouchelle Fine & Estate Jewelry Buyers, Sellers, Appraisers and Auctioneers in Birmingham, Michigan, was initially charged in a criminal complaint filed in federal court in November 2019.

The following June, federal prosecutors filed a criminal information against him, which superseded the complaint and charged him with wire fraud.

At that time DuMouchelle pleaded not guilty, but then pivoted to guilty, pleading Monday via videoconference.

According to the criminal information, between February and May of 2019, DuMouchelle “devised and executed a scheme to obtain money by means of false and fraudulent material pretenses, representations and promises.”

In late 2018, prosecutors say a man named Thomas Ritter, who is related to the brother-in-law of DuMouchelle’s wife, contacted the jeweler to collect on a $430,000 debt.

Instead of paying, DuMouchelle offered Ritter an opportunity to allegedly make more money: buy and resell “The Yellow Rose Diamond,” a 77.12-carat, VS2 natural fancy vivid yellow diamond.

DuMouchelle told Ritter they could buy it for $12 million, sell it for $16 million and split the profit.

Ritter agreed, but told DuMouchelle he wanted to transfer the $12 million directly to the seller of the Yellow Rose.

According to the criminal information, DuMouchelle falsified documents and emails to make it appear Ritter was doing so when the money was really was going ... "

https://www.nationaljeweler.com/indepen ... wire-fraud
PinkDiamond
ISG Registered Gemologist


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