Mumbai: The Anti-Extortion Cell (AEC) of the Mumbai crime branch has arrested angadia operator Rakesh Mandaliya, 50, for allegedly misappropriating crores of rupees collected from gold traders and later using threats from alleged gangster linked to the Dawood Ibrahim to stop the complainant from demanding repayment.
Dubai Link
Mandaliya, a Borivali (West) resident, was arrested on June 4 and remanded to police custody till June 10 by the Esplanade Court. Police said the complainant, an Indore-based gold and silver trader, sold gold bars to customers who were instructed to deposit payments with Mandaliya, associated with Bhuleshwar-based angadia firm M Ramesh Angadia. Mandaliya allegedly had to transfer the money to Divya Diamond and earned 0.5% commission.
From January 22-28, the trader from Indore purchased 1,746.85gm of 24-carat gold from Divya Diamond and sold it to customers, who allegedly deposited Rs2.79 crore with Mandaliya. When asked to transfer the funds, Mandaliya cited income tax-related issues and later became unreachable.
Modus Operandi
The complaint also alleges that Mandaliya’s father-in-law Ramesh Prajapati and wife Dharini Mandaliya warned the complainant against pressing for repayment, referring to the D-Company (Dawood). Police said the complainant later received WhatsApp calls on May 7, 15 and 16 from a +971 number. The caller, identifying himself as Haji Bhai, allegedly threatened to kill him and demanded Rs1 crore as a penalty for approaching the police.
Sir JJ Marg Police registered an FIR, later transferred to the AEC. Police are probing Mandaliya’s alleged links with the caller, the Dawood angle, and the missing money.
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