Mark Cuban-backed ‘cremation diamond’ company is a scam, experts say – Fox News

 Mark Cuban should have said “I’m out” on Eterneva.  On Sunday night’s episode of “Shark Tank,” the billionaire investor put his money behind the company that claims to turn the ashes of deceased loved ones into diamonds, offering them $600,000 for a 9% stake But according to a recent industry report and diamond expert and gemologist Grant Mobley, the company and its claims are actually totally fraudulent  “It is a shame to see that Cuban agreed to invest in Eterneva,” Mobley told Page Six Style exclusively “Companies like Eterneva that claim to make synthetic diamonds out of human ashes have been around for more than a decade   But after further research into the process, it has become well known within the jewelry industry that these companies are nothing more than a scam, which is why investments have come from outside the jewelry industry ”  Continued Mobley, “While these companies may be manufacturing synthetic diamonds that look similar to natural diamonds, they are not using ashes from your loved ones to do so In fact, the carbon that is left over from cremation is not near enough to produce a synthetic diamond and not in the correct form ”  Possibly worse, he added, is the cost such companies charge for these “sentimental” stones  “[They’re] charging a fortune, much more than the cost of a natural diamond of the same size and quality,” the gem expert said “The consumer is left with a synthetic diamond that has no value and no ties to the ashes of a loved one These companies are taking advantage of consumers when they are grieving and vulnerable and leaving them short thousands of dollars ”  Eterneva’s “Cremation Diamonds” start at $2,999 and can cost well over $10,000 for a larger stone  According to a report by gemologist Robert James, FGA, GG: “Currently, the cremation diamond industry operates with no government oversight or review, and without any type of formal control regarding the claims being made regarding the actual creation of diamonds using carbon obtained from cremation ashes ”  The documents go on to point out that carbon burns at 1,405 degrees Fahrenheit, while cremation furnaces operate in a temperature range of between 1,600 and 1,800 degrees Fahrenheit, thus completely destroying the approximately 18% of carbon that makes up the total weight of the human body  “In fact, the only way to obtain the enough carbon from the cremation process is a (a) only do a partial cremation or (b) add outside carbon from other sources to the ashes,” the report concludes “They cannot guarantee any of the loved one’s carbon is in the cremation or memorial diamond ”  Page Six Style has reached out to both Eterneva and Mark Cuban for comment, and has yet to hear back Share this:

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