BREAKING NEWS

Diamond body expels member for blood stones

By ASSOCIATED PRESS

DECEMBER 28, 2010 22:20

Israel's Diamond Exchange said Tuesday it has expelled a longtime member for attempting to smuggle illegal Zimbabwe "blood diamonds" into the country.

Zimbabwe is banned from exporting diamonds under the Kimberley Process, the 75-nation regulatory group that seeks to end the trade of so-called blood diamonds, which fund violence in Africa.

Spokesman Assaf Levin said the bourse expelled David Vardi after he was arrested last week for his connection to about $200,000 worth of illegal Zimbabwe stones. He said his organization "will not tolerate dealing in blood diamonds."

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