Is Canadian Diamond Traders a Scam?

I suspect so. Consider what the FBI says about pyramid schemes:

Pyramid schemes, also referred to as franchise fraud, or chain referral schemes, are marketing and investment frauds in which an individual is offered a distributorship or franchise to market a particular product. The real profit is earned, not by the sale of the product, but by the sale of new distributorships. Emphasis on selling franchises rather than the product eventually leads to a point where the supply of potential investors is exhausted and the pyramid collapses. At the heart of each pyramid scheme there is typically a representation that new participants can recoup their original investments by inducing two or more prospects to make the same investment. Promoters fail to tell prospective participants that this is mathematically impossible for everyone to do, since some participants drop out, while others recoup their original investments and then drop out.

Some Tips to Avoid Pyramid Schemes:

  • Be wary of “opportunities” to invest your money in franchises or investments that require you to bring in subsequent investors to increase your profit or recoup your initial investment.
  • Independently verify the legitimacy of any franchise or investment before you invest.

Federal Bureau of Investigation: Common Fraud Schemes

Related post: Canadian Diamond Traders wants to silence me?






20 responses to “Is Canadian Diamond Traders a Scam?”

  1. iqbaal Avatar

    To claim a refund from CDT… what is the procedure & who must the letter be sent to? THX


  2. Gafty Avatar

    Hello Libby,You have to write a letter to CDT if want a refund. But what happend with your 4 invited people? They did not refer anybody?


  3. Libby Avatar

    It has been 4 years since I first invested $800 with CDT, after introducing 4 people who paid $us95 each, I have not heard another mention from CDT. Surely they can see they owe me a refund of $800 as I have not received anything at all, no diamonds nothing.Battler wanting to have a go.


  4. Irene Avatar

    Yes, all those companies are scams – it you treat them as one.That is if you treat them as a quick and painless way to make some BIG MONEY! If you join under the assumption that you do not have to DO anything just wait a "couple of days(maybe weeks)" and you will have made it big!It does not work like that. CDT is a legitimate business if YOU work it like ONE!Have you ever thought how much it will cost you to start a business or a franchise like say McDonald's? (I hope you assume that it is a REAL business).If you decided to spring those couple of thousand hundreds of dollars, and after that told two people about it and would sit on your behind not doing anything else it would quickly turn into a SCAM too.A business requires WORK on your part to make it run. It requires some monetary investments, time, marketing skills, commitment and so much more!!! There is no easy way to make money, there is ether business or scams and the difference between them is in your mind.If you are seriously tired of the rat race and understand that job security is a joke then you need to start educating yourself and start thinking of owning your own business – any business for that matter.But if you are looking to start a business and are ready to commit to it, the Network Marketing Industry is your best bet to have a chance to survive, to learn and to grow with minimal investment, on job training, all the systems already put in place, coaching and support and so much more. And to tell you my opinion (for what it is worth) working in several different MLM I find CDT to be one of the best of them.If you want to hear any more of my humble opinions my Skype is dan_ira96


  5. David Thornton Avatar

    Website spelled incorrectly abovewww.crimebustersnow.comdave – CBNow


  6. Radik Avatar

    Canadian Diamond Traders is a BIG FRAUD!!!!


  7. Radik Avatar

    CDT you ar a BIG SCAM!!!!!!!!!!!!!!!


  8. David Thornton Avatar

    You can sue them alright. Better if you are from Ontario.dave –


  9. cindy Avatar

    Hello all,blah, blah, blah…. Listen to my story:I was involved into easy making money. I was gotten by my classmate who found me over the Skype.She was talking so realistically about earning dividents (pay $500, get $3000) that I believed her. I paid $500, then I paid $120, then I involved my sister with $120, then she involved her friend with $120 and so on.RESULT: NO RESULTS.No diamonds, no money (CDT promised that it works only if you bring friends/people to get dividents). Otherwise, it works too, but you have to wait for the dividents few years to come back. Funny! I wish!!!Now I have to forget about this money. Or, Can I sue them to get our money back?regards,me


  10. Debra MacGregor Avatar

    15.I recently investigated CDT, and came to the conclusion that in spite of the negative vibe of this and other blogs, the company seems very legitimate. In the first place it is NOT a fly by night type of operation, having been around for 6 yrs now. The company is a wholesaler of diamonds, and is based in Toronto, Canada. You can purchase your diamond for full price on the internet, or put a deposit on one and find two other people to purchase their diamond from CDT, instead of another company. The diamonds purchased from CDT are certified by the same company that certified the diamond my husband purchased from a well-know jewellery chain in London, Ontario. As to the pyramid allegation, in Canada, for the true definition of an “illegal pyramid”, the product itself would have little to no value, or demand. This is obviously not the case here, I cannot imagine a company like Gemscan risking it’s reputation on something like this, not to mention the reputation of a Queen’s Counselor. Also, unlike ANY other system that has a pyramidal form, the ‘top’ positions are not stagnant and every person who enters that table as a ‘miner’ has an equal opportunity to get to the top. I think perhaps what we are reading here is very much sour grapes on someone’s part. I haven’t decided yet whether or not to purchase a diamond from CDT and enter their trading opportunity, but I am certainly reading ALL of the information I find about it. Here is an interesting piece, where CDT actually responds to the slander on the net. GIVE IT TIME TO LOAD-


  11. Shawn McAllister Avatar

    I am not here to argue, but you had better refrain from your comments directed at my name please, or belittling me like i'm an idiot. If you dare slander me I shall have my legal partners at Gowlings give you a kick in the bum, there is contact info available David in case you were not aware. Do not direct your conversation at me. I appreciate you helping those with TTI and BIM, looks to me like the company model was solely based on recruiting to make $$. $3200 is also quite a large investment.As a matter of fact I may assume you were envolved at some point and are looking for revenge of some sort. The company (CDT) can also persue a suit against you for slander. I do not know what research you perfomed but I did my due diligence.I am getting my diamond so it works and seen others get theirs and get paid. That is the business they are in as stated by them, selling diamonds. They can be purchased outright or by deposit. If someone is in collector they may purchase another diamond deposit to get a freebee and advance as mentioned by the company to cycle should they choose to or make at least one deposit sale. That diamond has a value on the $100 table of at least $400-700 US dollars. Pretty good if you ask me.My lawyer at Gowlings helped me research the company and all its associations, and liked the company's plan so much they considered it. All I know is it does work with a proper system which is lacking. CDT has made this understanding and any materials/ideas we have established all need to be reviewed by them as well because they do not want to be misrepresented in any way, shape or form – otherwise they can be refunded and ejected from the CDT program. A system is required so there is no friction and everyone succeeds. One sale (or an additional purchase) and a freebee is all it takes and if you do not cycle within a year of the 2nd sale they will provide a refund. I do business with a couple of people that have been refunded. This is part of the consumer Protection Act and no longer classifies as a pyramid scheme(scam).Anyways, I didn't mean to upset/offend anyone in any way shape or form. Just wanted to offer my unbiased opinion. People are capable of making their own decisions what is right and not.P.S. Witold is not in jail and was released, why? Because there is nothing illegitamate about what he does. The company is ISO registered and must follow strict rules to be registered with them. Jay Waterman can hold you responsible for this claim as well for slander should he choose. Maybe he is not awre of your rants, but I will make him aware. I do not know him personally but I could probably find my way to get a hold of him too.P.P.S. Daniel, if you need a hand or wish to discuss anything I will help do what's right for you even though I have no power to do so, if I understand your situation it may help. Either a refund or any other suggestions for resolution that you can come up with. Gowlings is professional firm, moreso than this other guy for sure and charge around $450/hr but will consult for free.I am far from rich, but believe a GREAT lawyer is essential. I am also not about to cry over $120US or commit suicide as I would have spent it on something retarded anyways LoL. I was also an investment victim of AIG, in that regard I am pissed too, but the example is like comparing apples to oranges.Cheers and God Bless to all 🙂


  12. Daniel Greene Avatar

    You know, I said this was out of control, but what they heck? Y'all fight it out here. I appreciate the comments from both sides. I would just really like to get an investigative reporter in here from a news agency with the clout and legal power to do what a little guy like me doesn't have the resources to do.


  13. John Richards Avatar

    Interesting that David Thornton would be calling anything or anyone a scam. Amazing how the pot calls the kettle black!!Visit these two blogs to learn all about David Thornton and his scam artist tricks.


  14. Daniel Greene Avatar

    This is so out of control. Both sides have strong opinions and it's hard to find enough credible evidence to support either side. I wish a media outlet with the legal, financial, and temporal resources that I lack would investigate CDN so we could get the real story.


  15. Jeff Avatar

    Whether CDT is legal or not is not my concern. I have never been involved with them and I myself have some questions regarding their system and would never be involved with them however Gator Dave even calls my 40 year old billion dollar company a scam so I have a huge problem with him especially since he is always asking for money to finance his fake causes. Crime Busters Now is simply another way for crooks like Dave to steal money from people who have been hurt by bad scams like CBN.Robert


  16. Jeff Avatar

    Amazing how anyone can manipulate a story and become a victim. Dave Thornton is far from a victim. He is one of the worst types of crooks you can encounter. He has been living off people for the past 15 years on many self created causes. Even today he lives in other people's home, drive other people's van and live off other people as well as his pension. Don't be fooled by Dave Thornton.Robert


  17. Shawn McAllister Avatar

    Hey all,I vouch for it not against it, it works for me and it can work for anyone else. I only ever registered 2 people and its working, sorry.The problem with a business such as this is they do not have a system or people wish to put in no effort at all, and now that I am seeing the results….. they speak for themselves sorry to all that it doesn't work for.I have come across a smart individual who has supported e and countless others with his system that he has implemented. I have been envolved with others MLM's, Network Marketing and sales agencies and for the effort put in you do not receive anything of any value or it requires ALOT of effort to see a return.Why do people suggest the diamonds are from Africa, they are actually from India as stated by the company nad can b traced to there, then cut here in Canada, and then appraised – and they are appraised by GemScan, the same company that appraises for large jewellers and other wholesalers/retailers and no AmCham is not the better business bureau but they do business with companies that trade or do business in the US/Canada on typically a large scale, look at the others envolved with them, but there is a code of conduct for the industry which CDT is a member under their parent company please check it out.It's unfortunate that people have to use fear to market something or promote something as a get rich quick, but this isn't anything like that at all. I speak from my heart and know it works, but sometimes if something works too easily then questions are raised and governments want control. I beleive this is what is happening in Australia?? I was once involved with the grand daddy of all MLM's the big A – those of you who know.To David of CrimeBustersNow, are you going to charge for your services or do it for free – would it not cost me more to hire you then my $100US – probably??? How about you develop a real website and invest some $$ in your business, and focus on YOUR business, rather than using this as a way to promote yourself if you are doing so well. It certainly adds no crediblity to me. I design websites for a living and I will agree with you that CDT needs to redesign theirs – Hope I do not offend anyone at CDT sorry, but I love your program!!I will only get envolved with something that is morally and ethically right and dollar for dollar, effort for effort nothing will touch this. They have my support and why do people keep focusing on just diamonds as they pay cash too. US dollars in Canada, hello McFly LOL 🙂 at a 30% exchange rate YEHA!!I hope that I didn't offend anybody, but rather than focusing your effort on negativity and excuses ( I researched this business for over 1 month before doing it, even spoke with their legal rep and other reps about the company including their financials) cause I was worried and concerned about my friend too. We have every right to be. JUST DO YOUR RESEARCH AS I HAVE BEFORE YOU SAY OR BELEIVE THINGS AND REACT NEGATIVELY,Just food for thought.Keep it Up CDT!!Shawnshawn_mca@hotmail.comP.S. The company rebates your deposit/investment/money if it doesn't see a return due to the diamond industry standards they MUST followP.P.S. Want to know a proper system, please contact me if it isn't working for you – i'll show you and explain how it can.GOD BLESS and TO YOUR SUCCESS!!


  18. Eugene Avatar

    This is the biggest scam I have ever encountered


  19. Mary Avatar

    You obviously DO NOT know what a pyramid system is and how it works. I do. Please educate yourself. And since pyramid is illegal CDT would not be able to operate if it was a pyramid.


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