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Wed Dec 4, 2019, 03:59 AM

Atlanta man sentenced in million-dollar diamond and high-end jewelry fraud scheme

ATLANTA - Cory Smith has been sentenced for defrauding more than a dozen diamond and jewelry dealers and wholesalers nationwide. Over the course of his scheme, Smith attempted to defraud these companies of nearly $1.2 million in diamonds and jewelry and successfully obtained nearly $570,000 in merchandise.

“Smith repeatedly exploited the trust of diamond and jewelry dealers to defraud them,” said U.S. Attorney Byung J. “BJay” Pak. “Identifying Smith took the collective effort and cooperation of the victim retailers and wholesalers, commercial shippers, and local and federal law enforcement, and I commend their work.”

“A lot of hard working citizens were victimized by Smith in his elaborate scheme that cost them over a million dollars,” said Special Agent in Charge of FBI Atlanta Chris Hacker. “His sentencing should serve as a warning that no matter how elaborate a scheme, investigating FBI agents are determined to protect American citizens against such crimes.”

“I am proud of the hard work and dedication that the Knox County Sheriff’s Office Deputies and detectives along with federal agents exemplified during this investigation. Make no mistake, the Knox County Sheriff’s Office will always cooperate with state and federal authorities to bring criminals to justice,” said Knox County Sheriff Tom Spangler.

Read more: https://www.justice.gov/usao-ndga/pr/atlanta-man-sentenced-million-dollar-diamond-and-high-end-jewelry-fraud-scheme

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