Authorities Probe Diamond Theft at Alrosa

RAPAPORT... Russian authorities have detained three members of an alleged criminalgang accused of stealing and selling high-quality diamonds belonging to Russianminer Alrosa.  The thefts, which allegedly occurred over an extended period, werecommitted by an Alrosa employee working in its sorting andgrading department, the Investigative Committee of the Russian Federation claimed Monday. She colluded with two external accomplices: one who acted as an intermediary and another who wasresponsible for selling the stones, according to authorities. "Alrosa confirms the announcement of [the] Federal SecurityService and Investigative Committee of Russia on the suppression of [a]large-scale scheme of theft of rough diamonds at the company's United SellingOrganization," Alrosa said in a statement to Rapaport News Monday. The police caught the employee as she attempted to leave Alrosa'spremises on June 6 with a batch of diamonds worth more than RUB 22 million($340,000). "Alrosa's security service directly participated in thatoperation," the Russian miner noted. "The company is extremely satisfied withthe joint work." Authorities also found about 500 rough diamonds weighingmore than 2,000 carats, another 11 diamonds worth over $3 million, and more than $2.5million in cash at the trio's homes. Jewelry from well-known luxury retailers wasalso confiscated, including more than 30 diamond-encrusted watches. A Russian court has placed the suspects in custody, and theywill be subject to a criminal investigation, authorities noted. Image: Parcels of stolen diamonds recovered from the suspects' homes. (The Investigative Committee of the Russian Federation)