Diamonds could also be a lady’s finest good friend, however sadly, the billion-dollar diamond trade is rife with scandal and fraud. There have been a lot of circumstances the place lab-grown diamonds have been graded as pure diamonds. An instance of this was seen final yr when the Worldwide Gemological Institute analyzed and graded a 6.18ct lab-grown diamond, which was beforehand claimed to be a pure diamond on its Gemological Institute of America (GIA) report.

It was additionally reported in 2005 that the Gemological Institute of America — which is among the most trusted sources for evaluating gemstone high quality — was accepting bribes to improve its GIA experiences. In accordance with sources, a lawsuit was filed towards GIA in 2005 because of funds being accepted to “improve” the standard of diamonds submitted for grading.