Jeweler Accused of Stealing Rings Worth $1M

A jeweler in Manhattan is being accused of stealing two diamond rings worth over $1 million in all.

Ashot Logian, CEO of Jado jewelers, claims he lost the rings, the New York Post reports. But he’s been indicted on allegations of grand larceny and possession of stolen property.

Logian was tasked with resizing them for their owner, Carol Kleinberg, CEO of Kleinberg Electric Inc.

Insurer Lloyd’s of London has paid Kleinberg and her husband, Paul Kleinberg, more than $1 million for the jewelry.

The rings consisted of a 4.2-carat oval yellow diamond and a 10.6-carat white diamond. Both were set in platinum.

The larger of the diamonds has been located; it had been sold and resold. After being recut to a recut to a 9.6-carat emerald stone, it was submitted to the Gemological Intitute of America, which recognized it and contacted authorities. 

The smaller diamond has not been located.

Read more at the New York Post