Diamond Expert Admits Conviction

A nationally renowned diamond expert used by Ventura County prosecutors in their civil case against jeweler George P. Thompson has admitted that he was once convicted of a felony.

The admission from Cosmo Altobelli came last week during questioning by Thompson’s attorney, Glenn Campbell. The district attorney’s office filed a civil suit in Ventura County Superior Court last month accusing Thompson of using misleading and deceptive advertising.

Deputy Dist. Atty. Mitchell Disney said undercover investigators bought two diamond rings from Thompson that had been advertised as being more than $1,000 less expensive than similar rings sold at the Bullock’s department store.

Altobelli found Thompson’s rings to be “poor” quality, while rating the Bullock’s rings as “very good,” Disney said.

On Wednesday, Altobelli told attorneys he was convicted of attempting to receive stolen property in 1976. But that conviction has since been expunged from Altobelli’s record because of good behavior and cannot be used in court, Disney said.

Further, Disney said Altobelli is a respected gemologist who has testified for the FBI and other federal agencies investigating jewelry fraud.

“We have other evidence just as strong,” Disney said. Campbell did not return a telephone call late Tuesday.

Thompson is under temporary court order to refrain from comparing his diamonds to competitors’ without the endorsement of a certified gemologist. On Tuesday, a judge postponed until Jan. 22 a decision on whether to extend the prohibition.