Bankrupt Diamond Co. Was Undone By CEO Fraud Claims

By Emily Lever · November 19, 2025, 8:27 PM EST

Behind the glittering facade of Lugano Diamonds were fraudulent diamond investments and accounting irregularities that have landed the luxury jewelry house in bankruptcy, court documents and financial disclosures show....

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Bankruptcy Scorecard

Summary

Luxury jewelry house Lugano Diamonds & Jewelry Inc. filed for bankruptcy protections with plans to find a buyer for its business after allegations of fraud against its co-founder emerged.

Case Number

1:25-bk-12055

Judge

Brendan L. Shannon

Venue

U.S. Bankruptcy Court for the District of Delaware

Capital Structure

Total Liabilities:

$500 million to $1 billion

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Documents

Related Sections

Case Information

Case Title

Cassandra Hazen et al v. Lugano Diamonds & Jewlery, Inc.

Case Number

8:25-cv-01931

Court

California Central

Nature of Suit

Contract: Other

Date Filed

August 28, 2025

Case Title

Lugano Diamonds & Jewelry Inc.

Case Number

1:25-bk-12055

Court

Delaware

Nature of Suit

Date Filed

November 16, 2025

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