Diamonds and Gems May Have Bogus Ratings

Laboratory workers at the leading rater of diamonds in the world, the Gemological Institute of America, are being accused of taking bribes to give higher-than-deserved ratings to stones. The GIA, which in October 2005 fired four lab workers after a four-month internal investigation, says only a handful of rogue dealers and a relatively small number of stones were involved. The institute is not saying how many stones may have artificial ratings. The incident has diamond buyers around the world wondering if they overpaid for their purchase.