article_snippet.sent: a court heard how smooth-talking salesmen convinced clients the diamonds were a better investment prospect than gold and would pay handsome returns.
article_snippet.sent: But in reality, the diamonds were 'what the miners leave on the floor' and a gang of fraudsters who lived lavish lifestyles by selling investors were using the miners victims as 'cash cows', a court heard.
article_snippet.sent: Prosecutor Esther Schutzer-Weissman told how diamond investors lost in excess of £1.5m. '
article_snippet.sent: The caller was persuasive, The caller was persistent and always suggesting to the investor that purchasing coloured diamonds was an investment that would get good and reliable returns,' Prosecutor Esther Schutzer-Weissman said. '
article_snippet.sent: purchasing coloured diamonds was an investment that would get good and reliable returns were told often that diamonds would be scarcer and rarer and therefore more valuable because a mine, or mines, were closing or had closed. '
article_snippet.sent: purchasing coloured diamonds was an investment that would get good and reliable returns were told this was a limited time opportunity and purchasing coloured diamonds was an investment that would get good and reliable returns
article_snippet.sent: were told that the investment was guaranteed to provide a good return, depending of course on how long the diamond was kept before selling on. '
article_snippet.sent: Calls would be followed by letters that provided more concrete information about the investment prospect of the stones.'
article_snippet.sent: the court heard one victim was told an orange yellow diamond's worth would rocket at Chinese New Year when demand for the diamonds increased and one victim bought the court for £14,450.
article_snippet.sent: But the gem was in fact worth just £440.
article_snippet.sent: Victims were led to believe Victims were investing Victims savings in diamonds that could only increase in value and would provide Victims with regular and healthy dividends when in reality Victims were putting Victims money and trust in a carefully constructed scam designed to make the fraudsters a fortune. '