OTHER NEWS - April 23, 1992
From Times Staff and Wire Reports
Executive Accuses GE of Fixing Diamond Prices: General Electric Co. denied a fired executive’s allegations that the company conspired with the De Beers diamond cartel to fix the price of industrial gems. But the company said it will probe the accusations and cooperate with government investigators. Edward J. Russell of Dublin, Ohio, filed suit against GE in U.S. District Court in Cincinnati, accusing the company of conspiring with De Beers to fix prices of industrial diamonds on the world market. Russell, 54, alleged that he was fired for protesting and trying to stop GE meetings with De Beers leaders. The Justice Department’s antitrust division and the FBI said they are investigating whether there was any such price-fixing.
