Diamonds and precious stones

Diamonds and other precious materials - gold and jewels

Diamonds and other precious materials such as gold hold their value and in recent years their prices as commodities have risen markedly.  This makes them attractive to fraudsters who will use this to obtain your money.

Method

Investors are usually cold called by salespeople promoting diamonds or gold for example, that can be purchased in small amounts. The investor is encouraged to invest as it tax free and the longer it is held, the greater the profit. The fraudsters may also contact the investor and advise spending more money in a larger stone for example. They will then say that they will transfer the value of the existing stone across to complete the purchase. The stone or metal does not exist.

Advice

  • Do not respond to callers trying to sell you investments. Simply hang up the telephone.
  • Don’t let the company pressure you into buying because they say the offer won’t be there tomorrow. Hang up and take a day or two to consider your options.
  • Exercise considerable caution when investing your money especially in precious stones and precious metals.
  • Always seek independent / legal advice before committing to any investment.