Mumbai: Man Arrested For Alleged ₹1.60 Crore Jewellery Fraud

Vijay Bhagwatilalji Bordia has been apprehended by Mumbai Police for defrauding a jeweller of Rs 1.60 crore. The accused had obtained the jewellery from Jewellers with the intention of selling them to another party. 

The complainants, residing in Vileparle, are jewellers with a business named Satkar Jewellers in the same area. About four years ago, a friend introduced them to Vijay, who was reputed for his connections with traders in the city and the ability to secure favourable prices for their jewellery. 

Upon the request of a friend, the complainant entrusted jewellery valued at 60 lakhs to Vijay for sale. Vijay successfully sold the jewellery within the agreed time frame and promptly remitted the entire amount to the complainant, instilling confidence in their transaction.

In February 2021, Vijay received jewellery valued at Rs 1.60 crore for sale, but he misappropriated the funds after selling it and fled. Upon discovering this, the complainant promptly filed a report against Vijay at Vile Parle Police Station.

Following the complaint, the police filed a case of fraud and embezzlement against Vijay. Upon registration, he promptly absconded. The authorities spent the past four months searching for him and finally arrested him on a Thursday. Post-arrest, he was presented in the Andheri court, which subsequently remanded him to police custody.