Scio Diamond Technology Corporation was a
synthetic diamond
Lab-grown diamond (LGD; also called laboratory-grown, laboratory-created, man-made, artisan-created, artificial, synthetic, or cultured diamond) is diamond that is produced in a controlled technological process (in contrast to naturally formed ...
manufacturer that produced near flawless single-crystal
diamonds
Diamond is a solid form of the element carbon with its atoms arranged in a crystal structure called diamond cubic. Another solid form of carbon known as graphite is the chemically stable form of carbon at room temperature and pressure, ...
for gemstone and industrial applications, in
Greenville, South Carolina. The company produced chemical vapor deposition (CVD) gem-sized synthetic diamond crystals using processes pioneered by
Apollo Diamond, and had acquired Apollo Diamond's technology and assets including several US patents on the processes.
Products
Scio's so-called "cultured diamonds", or synthetic diamonds, although not of natural origin, are real diamonds, and thus they have the same physical and optical properties as diamonds formed by geological processes. The company's controlled manufacturing processes enabled it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds to suit a variety of industrial and gemstone applications.
Synthetic diamonds are often viewed as "green" as they are not mined, avoiding the controversy surrounding
blood diamonds
''Blood Diamond'' is a 2006 American political war action thriller film directed and co-produced by Edward Zwick and starring Leonardo DiCaprio, Jennifer Connelly, and Djimon Hounsou. The title refers to blood diamonds, which are diamond ...
by ensuring ethical sourcing that does not finance war or violence.
Alleged fraud and embezzlement
In 2017, the United States Department of Justice announced the indictment of Edward S. Adams, the chairman of the board of directors of the company, with "orchestrating an elaborate fraud scheme to embezzle millions of dollars of investors' funds."
Delisting
In August of 2019, the stock (under symbol SCIO) was
delisted
In corporate finance, a listing refers to the company's shares being on the list (or board) of stock that are officially traded on a stock exchange. Some stock exchanges allow shares of a foreign company to be listed and may allow dual listing, s ...
by the SEC after the company failed to file any financial reports for over two years.
SEC Delists Lab-Grown Diamond Company Scio
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See also
* List of synthetic diamond manufacturers Synthetic diamonds are produced via high pressure, high temperature (HPHT) or chemical vapor deposition (CVD) technology. These diamonds have numerous industrial and commercial uses including cutting tools, thermal conductors and consumer diamond g ...
References
External links
*
Synthetic diamond
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