Rishon man arrested for embezzling $35 million worth of diamonds

A massive diamond embezzlement scam was revealed by police on Monday after a 41 year-old man from Rishon Letzion was arrested on Sunday for attempting to fraudulently take possession of stones worth US$35 million. Police say the suspect and another man received the diamonds from an American company for the purpose of marketing them. According to the business arrangement, the suspect was supposed to transfer money he received for the diamonds, minus the commission he was permitted to charge for his work, to the company. But the suspect reneged on his promise, police say, and despite repeated attempts by the company, the man and his partner refused to return the diamonds or their value in cash. During one meeting between the suspects and the company, the men handed over a box which they said contained the diamonds. The box proved to be empty.