Surat trader held for misappropriating diamonds worth Rs 1.81 crore

A Surat-based diamond trader has been arrested for allegedly cheating another merchant in Mumbai by misappropriating diamonds worth Rs 1.81 crore, a police official said on Tuesday.

According to the BKC police station official, the arrested accused, Rajeshkumar Ramgopal Sharma, took the diamonds on credit, but never returned them or made payment to their owner.

The complainant, Rajesh Vithani (48), has his office in Bharat Diamond Bourse at Bandra-Kurla Complex (BKC) in suburban Mumbai and knew Sharma for nearly three years.

Sharma, who operates a jewellery and diamond business in Surat, had previously purchased diamonds from Vithani on credit and always made timely payments, thus gaining the latter's trust, said the official.

In March this year, one of Sharma's employees called Vithani's staff member, claiming they had good buyers interested in purchasing diamonds. Believing the request to be genuine, Vithani handed over diamonds worth Rs 1.81 crore to Sharma on credit, he said.

Sharma promised to either return the diamonds if not sold or make full payment within 15 days.

However, once the deadline passed, the Surat trader neither returned the diamonds nor released the payment. He also evaded calls from the victim, according to the official.

After five months, Vithani realised he has been cheated and lodged a complaint against Sharma at the the BKC police station. Following verification, the police registered a case of cheating and criminal breach of trust against Sharma.

The accused was tracked down in Gujarat and taken into custody and brought to Mumbai, where he was placed under arrest, the official added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)