New York diamond dealer Ariel Schonfeld was recently indicted on charges of “memo fraud.”

Schonfeld was indicted on one count of grand larceny in the first degree, nine counts of grand larceny in the second degree, and one count of grand larceny in the third degree as well as two charges of a scheme to defraud in the first degree, according to the office of Manhattan district attorney Robert Morgenthau.

Schonfeld is the second New York dealer to run into trouble recently. New York diamond dealer Larry Kar of Worldwide Gem Ventures also was indicted for bilking investors of nearly $34 million in what prosecutors called a Ponzi scheme.

Schonfeld’s attorney did not return a call for comment.