Russian police seize $82K in diamonds

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VOLGORAD, Russia, Jan. 4 (UPI) -- Police in Volgorad, Russia, said they seized more than 1,000 diamonds and precious stones worth a total of approximately $82,000 in a raid Friday.

Police said they were tipped off about the gemstone trafficking and illicit distribution channels through area pawnbrokers and jewelry stores, RIA Novosti reported.

"It has been established that they [the suspects] were engaged in the manufacturing of jewelry involving precious stones in low-grade gold and silver. Fake stamps were applied to the jewelry from brands and factories that make products from precious metals. These products were then sold to consumers," police said in a statement.

Police arrested two suspects, aged 27 and 37, whose names were not reported. The two could face up to 12 years in prison if found guilty of trafficking gemstones and precious metals, RIA Novosti reported.