Source: news.co.cr (Representational Picture)
Mumbai Police has booked a 34 Year Old diamond dealer from Malad and arrested her for cheating diamond traders of Rs 25.59 crore.
Around a fortnight ago, the EOW registered a case of cheating, criminal conspiracy and criminal breach of trust against diamond trader Durga Vishal Mamtola, a Kandivli resident, and Kalpesh Mahendra Shah. Shah, from Malad, was arrested on Friday.
A 38 Year old diamond trader Hemant Shah complaint that he and other diamond traders gave diamonds and jewellery to Mamtola at a rate of Rs 25,000 to Rs 35,000 per carat in 2013, to sell the products in more profitable rates. Mamtola gave the diamond and jewelry to Kalpesh for trading in more profitable rates.
The two accused impressed the traders initially by sending money to traders by selling the diamonds. “Kalpesh and Mamtola, between 2013 and 2016, have taken diamonds worth R55 crore from the traders, but only returned Rs 33 crore to them. When furious traders asked them about this, they were told by the accused that their diamonds were sold at the rate of Rs 19,000 per carat. They refuse to return the remaining Rs 22.32 crore,” said an officer.
The traders then approached EOW in the first week of this month. While investigation, Ashish Shah and Dewang Bhuwa came forward and told the investigators that they were also duped by the accused of Rs 1.50 Crore and 1.77 crore, respectively. The total money involved in the case, hence, rose to R25.59 crore. Mamtola and Shah have allegedly duped 14 traders.