A 21.25-carat pink diamond worth $25 million was stolen in Dubai during a planned theft involving individuals posing as prospective buyers. The stone, brought to the city by a European trader for a private sale, was recovered within eight hours following a police operation and the arrest of three suspects.
Long-term set-up
According to Dubai Police, the suspects spent over a year preparing for the theft. They posed as representatives of a wealthy client and arranged multiple meetings with the trader at luxury hotels. To build credibility, they hired an individual to act as a gem expert and inspected the stone under the pretext of due diligence.
The trader, who has operated in Dubai since 2005, was eventually persuaded to take the diamond out of secure storage and bring it to a villa for a final meeting. Once presented, the suspects took the stone and fled.
The diamond was described by police as possessing a high level of clarity and symmetry. It is classified as Fancy Intense and is considered to be among the rarest of its kind, with an estimated occurrence rate of 0.01 percent.
Swift police response
Dubai Police launched an investigation immediately after receiving the report. Specialist teams from the General Department of Criminal Investigation and Criminology were deployed, using surveillance tools and artificial intelligence to track the suspects’ movements.
The individuals had separated after the theft and moved to different locations across the city. Police conducted coordinated raids at multiple addresses and recovered the stolen diamond, which had been hidden in a small refrigerator. The suspects were detained before any attempt was made to move the stone out of the country.
Outcome and implications
The trader confirmed that the diamond was recovered the following morning. “To my surprise, the very next morning, they called to say the suspects had been arrested and the diamond recovered,” he said in a statement released by authorities. He also highlighted the importance of adhering to safety guidelines when conducting private sales.
Dubai Police said the operation demonstrated the effectiveness of current enforcement measures to protect the city’s trading environment.
Context for the trade
Dubai has become an important location for diamond trading, serving as a strategic link between production centres in Africa and cutting and trading markets such as India. The city’s infrastructure, logistics and tax policies have supported its role as a global hub.
The incident highlights the risks involved in handling high-value stones outside of secure premises. Jewellers are advised to remain cautious when approached by unknown intermediaries and to follow established protocols during off-site or private transactions.
