Celeb jeweler Joseph DuMouchelle responsible in $12M diamond caper

Detroit — A celeb jeweler known for auctioning the engagement ring President Donald Trump gave ex-wife Marla Maples pleaded responsible Monday to orchestrating a $12 million diamond caper.

Joseph DuMouchelle, 58, owner of DuMouchelle Fantastic & Estate Jewelers in Birmingham, faces up to 12 1/2 years in federal prison for his job in a prison situation that requires millionaires, phony documents, blue bloods and “The Yellow Rose,” a exceptional 77-carat diamond.

DuMouchelle tricked North Dakota businessman Thomas Ritter into wiring $12 million to make investments in the diamond very last yr. As an alternative, DuMouchelle on Monday admitted withdrawing most of the revenue and paying the income.

“And you despatched a fraudulent receipt, producing it appear to Thomas Ritter that you ordered The Yellow Rose, is that appropriate?” U.S. District Decide Mark Goldsmith questioned.

“Yes, your honor, that is correct,” DuMouchelle claimed.

Goldsmith tentatively established sentencing for January.

Prosecutors consider Ritter is among 26 victims who possibly gave DuMouchelle dollars or jewelry to offer, Assistant U.S. Lawyer Karen Reynolds mentioned. The governing administration believes the decline to victims is a lot more than $25 million, while DuMouchelle law firm Jonathan Epstein thinks the decline could be a lot less.