Investors Say Aspen Jewelry CEO Stole Millions Meant for Diamonds

Investors say Aspen jewelry CEO stole millions meant for diamonds

The lawsuit is the latest fallout from a financial scandal involving Lugano Diamonds, which has a store in Aspen, and its founder Moti Ferder.

Investor Sues Lugano Diamonds for Withholding Millions in Earmarked Funds

Lugano Diamonds is facing a lawsuit from an investor who provided more than $3 million to the company as part of a joint deal to manufacture jewelry and split the profits.  Kristoffer Winters alleges he entered into an agreement with Lugano in March whereby he would provide an up-front payment of $3.1 million to purchase three diamonds. Lugano would then set the diamonds into rings and sell them for a profit, which it would divide between the tw…