New lawsuits filed against Genesis Diamonds - KCTV5

New lawsuits filed against Genesis Diamonds

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NASHVILLE, TN (WSMV) -

A lawsuit filed Monday centers on what might be the most dramatic example yet of diamond discrepancies at Nashville's popular Genesis Diamonds.

In one of two suits filed on Monday, a customer said a pair of three-carat diamond cufflinks he bought from Genesis, with color grades certified by a lab known as EGL International, turned out to be six to seven colors worse and far less valuable when analyzed by GIA, the most stringent diamond grading laboratory.

The same customer also bought an expensive anniversary ring he claimed was exaggerated by four color grades in its EGL International certification.

"There's a six-figure difference, over $100,000, between what my client was told these diamonds were worth and what an independent appraiser told us they were worth when we had them checked this year," attorney Brian Cummings said.

Last May, the Channel 4 I-Team talked to customers, former employees and competing jewelers who claimed Genesis often sold diamonds certified by EGL International. In many cases, those diamonds were not of the quality the customers expected.

There are now three lawsuits against Genesis concerning misleading customers about the quality of certain diamonds.

Eli Richardson, Genesis Diamond's attorney, said diamond grading is done with the human eye and the store stands by what it sells.

"All grading is subjective, and EGL International is known to be more lenient than GIA," Richardson said. "That does not make EGL International certifications fraudulent, just more lenient."

The two customers who filed suits Monday are represented by a different attorney than the one who alleged Genesis was breaking U.S. custom laws by offering EGL-certified diamonds, since the laboratory is involved in a complicated legal fight over its name.

Cummings said his customers had no idea their diamonds weren't worth what they paid.

"We have purchases in 2012, 2013 and 2014 by two different individuals at three very different price points, but the single common denominator was Genesis Diamonds told these people on different days these items were worth or what their grades were, were far from the truth," Cummings said.

Attorneys for Genesis said the store offered full refunds to both customers who filed a suit Monday, but both refused.

Genesis also said at least one of the pieces of jewelry at issue wasn't even certified as the suit describes.

Copyright 2014 WSMV (Meredith Corporation). All rights reserved.

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