HELP - I have been conned by Vashi Jewellers

Roya2018

Hi there. We bought my engagement ring in 2019 from Vashi Jewellers. 

Looking for advice- never been or heard of a situation like this and Dr Google is not of any help

I have a ring which is from a jeweller who has since committed mass fraud and was the centre of a panorama documentary. He had defrauded and conned his investors and it has come to light that he has also conned customers with regards to the intricacies of their purchases I.e. inflated diamond size when actually it's smaller or clarity etc. Just to add the company went into administration in 2023 so is no longer around.

It seems to be after review that the ring has been poorly made and therefore the stones are sat very loosely in the clasps. After having it reviewed by a jeweller in Hatton Garden, the ring is not to the specification we were sold - lesser diamonds etc

Reviewing the paper work, there is a lot of information missing from the appraisal document and therefore have evidently been scammed and quite evidently been duped into thinking the piece of jewellery was of high quality.

Do we have any protection from credit card company ( purchase was 2019) can we we do anything about it from a fraud POV, can we claim under insurance? We no longer have the credit card and cannot trace the original transaction. 

I am not sure what to do and any advice and direction would be most appreciated. Thank you

born_again

To be able to do anything you need to find which card was used & the actual transaction. Credit card co' will not help. S75 would be only way via credit card.
Rule of thumb on S75 is 6 years (5 in Scotland)
Insurance no idea, you would need to contact company who is insuring it.

What is your perceived loss here?

Roya2018

born_again said:

To be able to do anything you need to find which card was used & the actual transaction. Credit card co' will not help. S75 would be only way via credit card.
Rule of thumb on S75 is 6 years (5 in Scotland)
Insurance no idea, you would need to contact company who is insuring it.

What is your perceived loss here?

Around £4.5K

Ayr_Rage

Roya2018 said:

born_again said:

To be able to do anything you need to find which card was used & the actual transaction. Credit card co' will not help. S75 would be only way via credit card.
Rule of thumb on S75 is 6 years (5 in Scotland)
Insurance no idea, you would need to contact company who is insuring it.

What is your perceived loss here?

Around £4.5K

£4,500 on what original price?

I cannot see who you can claim against if the jeweller has stopped trading and you are just about out of time for any CC liability.

retiredbanker1

...And you have proof that you have lost out or are you assuming?

Grumpy_chap

Roya2018 said:

Hi there. We bought my engagement ring in 2019 from Vashi Jewellers. 

Looking for advice- never been or heard of a situation like this and Dr Google is not of any help

I have a ring which is from a jeweller who has since committed mass fraud and was the centre of a panorama documentary. He had defrauded and conned his investors and it has come to light that he has also conned customers with regards to the intricacies of their purchases I.e. inflated diamond size when actually it's smaller or clarity etc. Just to add the company went into administration in 2023 so is no longer around.

It seems to be after review that the ring has been poorly made and therefore the stones are sat very loosely in the clasps. After having it reviewed by a jeweller in Hatton Garden, the ring is not to the specification we were sold - lesser diamonds etc

Reviewing the paper work, there is a lot of information missing from the appraisal document and therefore have evidently been scammed and quite evidently been duped into thinking the piece of jewellery was of high quality.

Do we have any protection from credit card company ( purchase was 2019) can we we do anything about it from a fraud POV, can we claim under insurance? We no longer have the credit card and cannot trace the original transaction. 

I am not sure what to do and any advice and direction would be most appreciated. Thank you

Just to be clear, you purchased a ring in 2019 from a jewellers.

You have now been advised by another jewellers that the ring is poorly made and not matching the diamond rating that you initially understood.

As a result, you believe there is diminished value loss of £4.5k.

Why do you trust the word of the second jeweller more than the first?

Why was the second jeweller assessing the value of the ring?

If the second jeweller was valuing the ring with a view to purchase from yourself, a large part of the perceived loss will be the difference between what a jeweller will pay to buy the ring versus retail.

What was the original total value of the ring?

Roya2018

Ayr_Rage said:

Roya2018 said:

born_again said:

To be able to do anything you need to find which card was used & the actual transaction. Credit card co' will not help. S75 would be only way via credit card.
Rule of thumb on S75 is 6 years (5 in Scotland)
Insurance no idea, you would need to contact company who is insuring it.

What is your perceived loss here?

Around £4.5K

£4,500 on what original price?

I cannot see who you can claim against if the jeweller has stopped trading and you are just about out of time for any CC liability.

We have proof. The diamonds are of a much lower grade and quality to what we have paid for. I have had 2 independent valuations conducted and both have come back saying the same. 

We have been scammed and have not recieved what we paid for. There is a considerable difference in the grade of the diamonds in clarity and colour. 

Roya2018

Grumpy_chap said:

Roya2018 said:

Hi there. We bought my engagement ring in 2019 from Vashi Jewellers. 

Looking for advice- never been or heard of a situation like this and Dr Google is not of any help

I have a ring which is from a jeweller who has since committed mass fraud and was the centre of a panorama documentary. He had defrauded and conned his investors and it has come to light that he has also conned customers with regards to the intricacies of their purchases I.e. inflated diamond size when actually it's smaller or clarity etc. Just to add the company went into administration in 2023 so is no longer around.

It seems to be after review that the ring has been poorly made and therefore the stones are sat very loosely in the clasps. After having it reviewed by a jeweller in Hatton Garden, the ring is not to the specification we were sold - lesser diamonds etc

Reviewing the paper work, there is a lot of information missing from the appraisal document and therefore have evidently been scammed and quite evidently been duped into thinking the piece of jewellery was of high quality.

Do we have any protection from credit card company ( purchase was 2019) can we we do anything about it from a fraud POV, can we claim under insurance? We no longer have the credit card and cannot trace the original transaction. 

I am not sure what to do and any advice and direction would be most appreciated. Thank you

Just to be clear, you purchased a ring in 2019 from a jewellers.

You have now been advised by another jewellers that the ring is poorly made and not matching the diamond rating that you initially understood.

As a result, you believe there is diminished value loss of £4.5k.

Why do you trust the word of the second jeweller more than the first?

Why was the second jeweller assessing the value of the ring?

If the second jeweller was valuing the ring with a view to purchase from yourself, a large part of the perceived loss will be the difference between what a jeweller will pay to buy the ring versus retail.

What was the original total value of the ring?

The reasons for having the ring reviewed and therefore valued is due to panorama documentary where it was spoken about being mis sold diamonds and how they had conned customers into thinking that had one product but actually had something else. 

For peace of mind I wanted to ensure what I have is what it says on the certificate which is obviously not the case as we have now found out from.independent jewellers. 

They do not know the back story and just know it as I want my ring valued for insurance purposes. 

Roya2018

Roya2018 said:

Grumpy_chap said:

Roya2018 said:

Hi there. We bought my engagement ring in 2019 from Vashi Jewellers. 

Looking for advice- never been or heard of a situation like this and Dr Google is not of any help

I have a ring which is from a jeweller who has since committed mass fraud and was the centre of a panorama documentary. He had defrauded and conned his investors and it has come to light that he has also conned customers with regards to the intricacies of their purchases I.e. inflated diamond size when actually it's smaller or clarity etc. Just to add the company went into administration in 2023 so is no longer around.

It seems to be after review that the ring has been poorly made and therefore the stones are sat very loosely in the clasps. After having it reviewed by a jeweller in Hatton Garden, the ring is not to the specification we were sold - lesser diamonds etc

Reviewing the paper work, there is a lot of information missing from the appraisal document and therefore have evidently been scammed and quite evidently been duped into thinking the piece of jewellery was of high quality.

Do we have any protection from credit card company ( purchase was 2019) can we we do anything about it from a fraud POV, can we claim under insurance? We no longer have the credit card and cannot trace the original transaction. 

I am not sure what to do and any advice and direction would be most appreciated. Thank you

Just to be clear, you purchased a ring in 2019 from a jewellers.

You have now been advised by another jewellers that the ring is poorly made and not matching the diamond rating that you initially understood.

As a result, you believe there is diminished value loss of £4.5k.

Why do you trust the word of the second jeweller more than the first?

Why was the second jeweller assessing the value of the ring?

If the second jeweller was valuing the ring with a view to purchase from yourself, a large part of the perceived loss will be the difference between what a jeweller will pay to buy the ring versus retail.

What was the original total value of the ring?

The reasons for having the ring reviewed and therefore valued is due to panorama documentary where it was spoken about being mis sold diamonds and how they had conned customers into thinking that had one product but actually had something else. 

For peace of mind I wanted to ensure what I have is what it says on the certificate which is obviously not the case as we have now found out from.independent jewellers. 

They do not know the back story and just know it as I want my ring valued for insurance purposes. 

The original value of the ring was £6000 and both are saying it should only have cost around £2.5-3K

Ayr_Rage

Roya2018 said:

Roya2018 said:

Grumpy_chap said:

Roya2018 said:

Hi there. We bought my engagement ring in 2019 from Vashi Jewellers. 

Looking for advice- never been or heard of a situation like this and Dr Google is not of any help

I have a ring which is from a jeweller who has since committed mass fraud and was the centre of a panorama documentary. He had defrauded and conned his investors and it has come to light that he has also conned customers with regards to the intricacies of their purchases I.e. inflated diamond size when actually it's smaller or clarity etc. Just to add the company went into administration in 2023 so is no longer around.

It seems to be after review that the ring has been poorly made and therefore the stones are sat very loosely in the clasps. After having it reviewed by a jeweller in Hatton Garden, the ring is not to the specification we were sold - lesser diamonds etc

Reviewing the paper work, there is a lot of information missing from the appraisal document and therefore have evidently been scammed and quite evidently been duped into thinking the piece of jewellery was of high quality.

Do we have any protection from credit card company ( purchase was 2019) can we we do anything about it from a fraud POV, can we claim under insurance? We no longer have the credit card and cannot trace the original transaction. 

I am not sure what to do and any advice and direction would be most appreciated. Thank you

Just to be clear, you purchased a ring in 2019 from a jewellers.

You have now been advised by another jewellers that the ring is poorly made and not matching the diamond rating that you initially understood.

As a result, you believe there is diminished value loss of £4.5k.

Why do you trust the word of the second jeweller more than the first?

Why was the second jeweller assessing the value of the ring?

If the second jeweller was valuing the ring with a view to purchase from yourself, a large part of the perceived loss will be the difference between what a jeweller will pay to buy the ring versus retail.

What was the original total value of the ring?

The reasons for having the ring reviewed and therefore valued is due to panorama documentary where it was spoken about being mis sold diamonds and how they had conned customers into thinking that had one product but actually had something else. 

For peace of mind I wanted to ensure what I have is what it says on the certificate which is obviously not the case as we have now found out from.independent jewellers. 

They do not know the back story and just know it as I want my ring valued for insurance purposes. 

The original value of the ring was £6000 and both are saying it should only have cost around £2.5-3K

Well, that's only a difference of £3000 to £3500 and not the £4500 you quoted earlier.

The cost of the ring is always greater than the sum of its components, the workmanship and profit bump that up.

As Vashi is no more and you have the goods your only claim could be against whoever provided any misleading or false documents regarding the diamonds, best of luck finding them and getting them to court.