Articles and News

New York, NY--Edward Carlos St. Mary III, a Houston-based diamond dealer, has been charged with wire fraud for allegedly obtaining over $3 million worth of uncut diamonds from an international exporter and manufacturer of natural diamonds through fraudulent means, according to a report by the U.S. Attorney’s Office for the Southern District of New York.

[Image via iStockphoto.com]

The report stated that the 55-year-old was arrested on May 20 and presented in the U.S. District Court for the Southern District of Texas.

According to the report, St. Mary met with the owner of the Diamond Company in India in April 2021 and agreed to purchase approximately 287 carats of diamonds for $3.275 million. Between April and June 2021, St. Mary allegedly sent fraudulent documents and made false statements regarding his bank accounts and ability to pay.

The report stated that the diamonds were delivered to a secure transportation company on June 11, 2021, for shipment to the U.S. St. Mary allegedly picked up the diamonds from the company’s New York City location on August 4, 2021, without payment or authorization.

According to the report, St. Mary continued to make false statements to the Diamond Company, including claims that the diamonds were still with the security company and that he had made a wire transfer. The report also stated that St. Mary later admitted he had not paid for the diamonds.

St. Mary is charged with one count of wire fraud, which carries a maximum sentence of 20 years in prison. The case is being prosecuted by the U.S. Attorney’s Office’s General Crimes Division, with Assistant U.S. Attorneys Remy Grosbard and Ariana Bloom handling the case.

Learn more in this report by the U.S. Attorney’s Office for the Southern District of New York.