Mumbai Crime: Man Held For Defrauding Jeweller Of ₹1.25 Crore

Mumbai Crime: Man Held For Defrauding Jeweller Of ₹1.25 Crore

Police managed to nab the accused after six months of relentless pursuit.

Vishal SinghUpdated: Tuesday, January 16, 2024, 10:04 PM IST
article-image
Representative Image

Mumbai: The MIDC police have arrested a marketing executive officer and distributor, on charges of defrauding a jeweller by illicitly selling 3100 grams of jewellery valued at around ₹1.25 crore.

Due to the 11 years of association with the accused Soni Sakharia, the complainant Pankaj Sukhraj Jain, the owner of PT 950 World of Platinum, a jewellery manufacturing company based in Andheri, appointed Sakharia as the distributor and marketing executive responsible for selling jewellery to traders in Chennai. The company facilitated his stay in Chennai.

Fraudster absconds after defrauding jeweller

Upon joining, Sakharia swiftly secured orders for gold and platinum from ten to twelve jewellers in Chennai. In June 2022, an order totalling ₹4 crore, consisting of 337 pieces of diamond, gold, and platinum jewellery, remained unpaid within the agreed 30-day period. Despite having settled the rest of the amount, ₹1.25 crore was still outstanding as debt. Sakharia avoided inquiries and ceased communication.

Victim files complaint after realising he was duped

Jain, upon discovering the misdeed, filed a complaint with the MIDC police. Subsequently, a case was registered against Sakharia for embezzlement and fraud. However, the accused managed to evade arrest and fled the scene, prompting a comprehensive investigation by the police.

After six months of relentless pursuit, the police successfully arrested Sakharia through a special operation based on technical information. Currently, in police custody, further efforts are underway to determine the recipients of the fraudulently sold jewellery.

RECENT STORIES

'Reform Over Punishment': Court Fines Jammer Breaker

'Reform Over Punishment': Court Fines Jammer Breaker

Mumbai: Residents Secure Victory In Saving Lokhandwala Joggers Park From Encroachment

Mumbai: Residents Secure Victory In Saving Lokhandwala Joggers Park From Encroachment

Ghatkopar Hoarding Collapse: Bhinde's Non-Cooperation Leads To Extension Of Police Custody For One...

Ghatkopar Hoarding Collapse: Bhinde's Non-Cooperation Leads To Extension Of Police Custody For One...

Dombivali Blast: Owners Of Amudan Chemical Company Sent To Police Custody For Two Days

Dombivali Blast: Owners Of Amudan Chemical Company Sent To Police Custody For Two Days

Mumbai: Nine Injured In Gas Cylinder Explosion In Dombivli, No Casualties Reported

Mumbai: Nine Injured In Gas Cylinder Explosion In Dombivli, No Casualties Reported