Diamonds could also be a lady’s greatest buddy, however sadly, the billion-dollar diamond business is rife with scandal and fraud. There have been numerous circumstances the place lab-grown diamonds have been graded as pure diamonds. An instance of this was seen final 12 months 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 without doubt one of the most trusted sources for evaluating gemstone high quality — was accepting bribes to improve its GIA experiences. In line with sources, a lawsuit was filed towards GIA in 2005 as a result of funds being accepted to “improve” the standard of diamonds submitted for grading.