James Allen News Center

New York, New York 10008

An auction held on behalf of the federal Treasury Department brought in over $750,000 in sales for hundreds of loose diamonds.  Rick Levin, a Chicago auctioneer, brought the diamonds to the market after they were seized in a 2003 sting operation.

The 605 loose diamonds once belonged to Roman and Eduard Nektalov, family members who sold diamonds in Manhattan`s diamond district.  The two were arrested in a string operation in 2003 after selling the gems to an undercover agent in exchanged for $500,000. 

The auction was held on Friday at the New Yorker hotel.