As Empire Crumbled, Frankel Turned $10 Million Into Diamonds

7/8/1999

The New York Times
As Empire Crumbled, Frankel Turned $10 Million Into Diamonds

“There’s a lot of interplay between diamond dealers and law enforcement,” said Bob Lindquist, a partner at PricewaterhouseCoopers in Washington, who specializes in unraveling fraud cases.  He said he expected that Mr. Frankel would have to turn to organized crime to sell the diamonds at a steep discount.

“Cash is a much better alternative,” Mr. Lindquist said.  “But lugging around that much cash is a problem.”

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