Two FIRs filed against diamond export firm owner for Rs 26 crore fraud

webnexttech | Two FIRs filed against diamond export firm owner for Rs 26 crore fraud

The Mumbai Police have registered two FIRs against a diamond merchant in Bharat Diamond Bourse who defrauded other diamond businessmen of Rs 26.02 crore. The police are looking for the accused and believe that more victims may come forward in the coming days. The Bandra Kurla Complex police have registered two FIRs for fraud against Shalin Nitinkumar Shah, 42, of Kisha Exports on Tuesday and Wednesday. Shah is a Malad resident. Wednesday’s complaint was filed by Harish Kasodariya from DDLP Diamond company. As per his complaint, between March and September last year, Shah of Kisha Exports under the pretext of selling the diamonds to other merchants at a good rate, took diamonds of various cuts totalling Rs 21.52 crore. He also promised to give a proper bill of the diamond deals. However, he failed to fulfil the promise and siphoned off the diamonds, causing a wrongful loss of Rs 21.52 crore to the complainant diamond company, said a police officer. Similarly, Nirav Parikh, proprietor of Anil Jewellers diamond company, also filed a complaint against Shah for fraud between October 2023 and March 2024, the source added. The police have booked Shah under sections 420 (cheating) and 409 (criminal breach of trust by a public servant, banker, merchant, or agent) of the Indian Penal Code.

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