|Yong hian Lim | Dreamstime.com||Enlarge|
|Bag of money|
According to Rieder's allegations, the illegal acts began after the financial crisis of 2008 hit the Belgian diamond industry hard, which made it exceedingly difficult to pay back millions of dollars of debt. ADB has refused to comment on the allegations.
ADB may face court proceedings as early as next month, Belgian media said. On top of criminal charges, ADB could be forced to pay fines of over $100 million, according to Rough and Polished.