Taub arrested in million-dollar bust-out scheme

A diamond dealer who riled 47th Street when he took millions of goods on memo and then disappeared was indicted and arrested today, the New York County district attorney's office announced. A grand jury indicted 29-year-old Alfred Taub—aka Avi Taub of A. Taub Diamonds—on charges of grand larceny, criminal possession of stolen property, insurance fraud and falsely reporting an incident. Taub's arraignment was scheduled for Tuesday afternoon.

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