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Online Diamond Seller Files for Bankruptcy

Dozens of individuals and businesses are reportedly owed money.

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Enchanted Diamonds, a Manhattan-based diamond dealer, has filed for bankruptcy, the New York Daily News reports.

The company, which sells its products online, owes $1.8 million, according to the newspaper.

Much of the debt is to customers who claim they paid the company and didn’t receive their gems.

A filing in federal bankruptcy court indicates that the firm owes money to dozens of individuals and business entities across the U.S. and in other regions, including Asia.

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More than 50 customers are “pursuing restitution through a law firm hired by Rare Carat, an online aggregator for jewelers,” according to the Daily News.

Joshua Niamehr, president of Enchanted Gems, did not respond to a request for comment on Friday, according to the newspaper.

Read more at the New York Daily News

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