Mumbai News: Police Book Diamond Broker In ₹63.53 Lakh Cheating Case

Mumbai News: Police Book Diamond Broker In ₹63.53 Lakh Cheating Case

The accused, a diamond agent from Oshiwara in Andheri (West), has worked across India in cities like Agra, Jaipur, Kanpur, and Mumbai for almost 30 years.

Megha KuchikUpdated: Wednesday, December 13, 2023, 12:26 AM IST
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Mumbai: A diamond broker with a three-decade career collaborating with various dealers across India is accused of taking five precious stones valued at ₹63.53 lakh from a dealer and not paying him.

According to police, the complainant, Narendra Jain, a diamond businessman from Bhulabhai Desai Road, runs AuraCreation, a company in BKC. The accused, Arvind Jain, a diamond agent from Oshiwara in Andheri (West), has worked across India in cities like Agra, Jaipur, Kanpur, and Mumbai for almost 30 years, collaborating with numerous dealers.

Diamond merchant was duped by agent

On October 5, Arvind visited Narendra’s company and informed him that a customer was interested in purchasing diamonds. Arvind requested the diamonds and assured Narendra that the remaining stones would be returned, along with money, by October 30. Believing him, Narendra gave him 138.28 carats of five diamonds worth ₹63,53,477 lakh.

Complaint filed after accused absconds mysteriously

After October 30, Narendra attempted to contact Arvind, but the latter avoided him. Growing suspicious, Narendra conducted an enquiry and discovered that Arvind had sold his office, located in BKC, 10 days previously and fled.

Subsequently, Narendra filed an FIR against Arvind under Sections 406 (criminal breach of trust), 409 (criminal breach of trust by agent) and 420 (cheating and dishonestly) of the Indian Penal Code at BKC police station on December 11.

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