Mumbai Police on Friday booked two diamond brokers who defrauded a BKC-based diamond company of Rs 1.20 crore by taking loans of precious stones on the pretext of selling them to another company at a higher price.
But the accused, 51-year-old Kishore Abhangi and 30-year-old Maulik Abhangi, neither sold the diamonds nor returned them to the company and remained in touch, said Gaurav Kothari, the sales manager of the firm who filed the complaint with the police.
Two brokers working in the Mumbai and Surat diamond markets told Kothari that they knew a company willing to buy good quality diamonds. Kothari said in the statement given to the police, “On the pretext of making a good profit, both of them took away 293.70 carats of cut and polished diamonds worth 1 billion 20 crores by signing mutual dispute receipts”.
Kothari told the police that the accused were introduced to his company at Bharat Diamond Exchange in BKC by another diamond broker in May.
A police officer said that the police is trying to collect the details of two brokers by interrogating other brokers and the people who work with them.
Kothari’s firm was waiting for two brokers to sell the diamond and when the company asked them to return the precious stone after the stipulated time, they gave a vague answer and bought more time.
The BKC police registered a case under sections 409 (criminal breach of trust by public servant or banker, trader or agent), 420 (cheating) and 34 (common intention) of the Indian Penal Code.
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