Mumbai: Police Arrest Businessman Accused Of Defrauding Bangalore Merchant In ₹90 Lakh Diamond Scam

Mumbai: Police Arrest Businessman Accused Of Defrauding Bangalore Merchant In ₹90 Lakh Diamond Scam

A diamond merchant from Bangalore had filed an FIR in October stating that the diamond he had brought to the city to sell was replaced with fake diamonds.

Vishal SinghUpdated: Saturday, December 23, 2023, 08:42 PM IST
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Mumbai: Police Arrest Businessman Accused Of Defrauding Bangalore Merchant In ₹90 Lakh Diamond Scam | Representational Image

Mumbai Police arrested a 35-year-old man, said to be a businessman, and recovered diamonds worth Rs 90 lakh when he was planning to sell them to a buyer. A diamond merchant from Bangalore had filed an FIR in October stating that the diamond he had brought to the city to sell was replaced with fake diamonds. The news of the diamond fraud was published by the Free Press Journal on October 13.

Background details of case

According to the information received from D B Marg police, Rakesh Savalia has been arrested in the diamond fraud case worth Rs 90 lakh, and the diamonds have been recovered from him. A police officer said that in the month of October, diamond merchant Raghavendra Chalapathi (36) had lodged an FIR with the police. In the complaint given to the police, Chalapathi had said that he had told his acquaintance Mohammad Zafar, who lives in Chennai, that he had to sell the diamond.

Zafar told him about the broker Dilip and said that Dilip knows a businessman from Mumbai who wants to buy the diamond. The complainant reached Mumbai with the diamonds, and along with Zafar and Dilip, he went to Panchratna Bhawan located near the Opera House. There he was introduced to businessman Kunal Mehta, who kept the diamonds with him and asked him to come the next day. When the complainant went there the next day, Mehta made him sit in a cabin and came out and gave him a bag and said that the diamonds given by him were kept in it. Mehta told the complainant that he would get Rs 6 crore for his diamonds.

When the complainant came out of the building, he saw the diamonds kept in the bag and realized that his diamonds had been replaced with fake diamonds. As soon as the complaint in this case was registered, the police arrested Kunal Mehta. During Mehta's interrogation, it was revealed that the diamonds were with Rakesh Savalia. Police have arrested Savalia from Malad. A police officer said that Savalia was going to sell diamonds to a businessman when a trap was laid, and he was arrested.

The original diamonds have been recovered from Savalia. The value of the diamonds is Rs 90 lakh, but Mehta had lured the complainant by promising him Rs 6 crore for these diamonds.

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