Manashe Sezanayev, a New York diamond dealer, pleaded guilty to grand larceny after stealing over $400,000 worth of diamonds from sellers and swapping them with lab-grown stones. Operating from his jewelry store, Rachel's Diamonds, he conducted the scheme discreetly, taking advantage of unsuspecting sellers. Following his indictment in July, Sezanayev's plea agreement includes five years of probation and $200,000 in restitution, with one stolen diamond returned. Manhattan District Attorney Alvin L. Bragg highlighted the need for accountability in consumer protection.
Manashe Sezanayev, a New York diamond dealer, has pleaded guilty to stealing over $400,000 in diamonds, replacing them with lab-grown stones, and faces probation.
Sezanayev admitted to swapping pricey diamonds with counterfeits while sellers weren't looking, operating from his jewelry store in Manhattan's diamond district.
Manhattan DA Alvin L. Bragg emphasized the importance of accountability, stating, 'We will continue to prosecute those who take advantage of consumers and conduct business deals dishonestly.'
Sezanayev pleaded guilty to grand larceny, is expected to receive five years of probation, has paid $200,000 in restitution, and returned one stolen diamond.
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