Jeweler Sells $150K Diamond w/o Permission: Sell Jewelry Boca Raton

sell jewelry boca raton

Sell Jewelry Boca Raton

sell jewelry boca raton

On December 27th, 2013, a Los Angeles jeweler pled guilty to one count of mail fraud.  What did he do you ask?  Basically, he agreed to sell a couples’ diamond on consignment, sold it, and didn’t tell them he sold it.  Mail fraud carries a maximum sentence of up to 20 years in federal prison.  The sentencing will be on March 13th, 2014.  I am very curious to see how long he gets locked up for.  To sell jewelry Boca Raton without the client’s permission is a big problem.

According to the indictment in the case, Billy Nubil Lulo of Global Rings Jewelry Inc. sold a 22.03 carat emerald cut diamond to Herb and Suzie Stokes in 2001.  Then, in 2005, the couple decided they wanted to sell the diamond, and asked Lulo for his help.  He put the diamond in his showroom and online for sale for the next few years.  Finally, in 2010 Lulo sold the diamond for $145,000 in cash and other merchandise without the Stokes’ permission.  He never told them about the sale and didn’t give them any of the proceeds from it.

Two years after the jeweler sold the stone Herb Stokes asked Lulo to return the diamond because Stokes thought he could sell it on his own in Texas.  The jeweler agreed to return the stone during a phone conversation and via written correspondence.  In what I can only assume was a panic, Lulo decided to send the Stokes’ a UPS box with just the setting inside.  He packed the package poorly to make it look like someone stole the diamond from inside.   Eventually the Stokes’ realized what happened and pressed charges.

Moral of the story is always be upfront and honest with customers.  Be especially forthcoming when it involves a 22 carat $150,000 diamond.

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