Mumbai Fraud Case: BKC Police Book 44-Year-Old Man For Cheating Diamond Trader Of ₹25.75 Lakh

Mumbai: The BKC police have booked a 44-year-old man, who claimed to be a diamond store owner, for allegedly cheating a diamond merchant of Rs 25.75 lakh. Notably, the complaint was lodged after a year-long gap following the alleged fraud.

The complainant, Sanket Jogani, 44, thought the accused, Keyur Shah, 44, would eventually return the money as the latter had met him through his acquaintance, Amit Shah, 51, a broker.

According to the FIR, Jogani, a resident of Nepean Sea Road, runs two companies involved in the diamond trade. In February 2024, he was introduced to Shah by Amit and a month later, the duo visited Jogani's BKC office. During the meeting, the accused said that he operates 'Asha Jewels', which is involved in the diamond business, and expressed interest in purchasing gems.

On the same day, Jogani handed over 42.15 carats of diamonds worth Rs 12.93 lakh to Shah and issued a receipt. The latter sought 15 days to make the payment, said the FIR, adding that a few days later, the accused again took 4.25 carats of gems worth Rs1.38 lakh and promised to pay in a fortnight.

On March 22, 2024, Shah gave two post-dated cheques and asked for more diamonds, alleged Jogani, saying that thinking that the cheques are valid, he handed over 37.23 carats of precious stones valued at Rs 11.42 lakh. A receipt was issued once again and Shah asked for 15 days to settle the payment.

As per the FIR, when the complainant deposited the cheques on the specified date, they turned out to be dud. Jogani claimed that when queried, Shah kept giving excuses and continued to ask for more time.

When he allegedly didn't give money even after a year, Jogani approached the police, who have filed a case for criminal breach of trust and cheating.