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Israeli Diamond Trader Caught in $2.5M Smuggling Attempt

IDEX Online | June 28, 2011 | 7:34 am Diamond

An Israeli diamond dealer was caught trying to smuggle into Israel polished diamonds worth $2.5 million. Traders need only declare polished imports and are tax exempt – if brought in legally. In this case the trader may pay a fine, VAT and face criminal charges.