No…Not a scene from the new Blood Diamond movie sequel
The Federal Trade Commission issued warning letters Tuesday to lab-grown diamond companies, including one backed by Leonardo DiCaprio, for advertising practices it says misleads consumers.
Zack Guzman Fri, Apr 5 5:12 AM PDT
The FTC said it found instances in which Diamond Foundry and seven other companies advertised its lab-grown diamonds in a way that might misrepresent “that a lab-created diamond is a mined diamond, or where required disclosures about the source of the diamonds are not proximate to the individual product descriptions.”
As Ada Diamonds co-founder Jason Payne explained on Yahoo Finance’s YFi PM, asking companies to be more careful about advertisements is not a net negative for the industry or for consumers looking for alternatives to mined diamonds. Ada Diamonds, which strictly sells laboratory-grown diamond jewelry, was among the companies that received a letter from the FTC.
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