03-05-2025
3 held for duping merchant of 23cr diamond jewellery
Mumbai: Three men who allegedly cheated a diamond trader of Rs 22.7 crore by assuming different identities were arrested on Friday. The accused took gold and diamond ornaments from the diamond trader to sell them, officials of
Economic Offences Wing
said, adding that the men had boasted of "business contacts in Qatar, UAE, and Saudi Arabia".
Later, they shut down their rented office in Khar, switched off their cellphones, and vanished.
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One accused, Hemant Shah, used another identity as Himanshu Shah (48), while Shakeel Ahmed posed as Sameer Sanghani (53), and Kaushal Kadam used another name, Ashish Mane (35). A court on Saturday sent the three to police custody till May 10.
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The complainant, who has his office at Bharat Diamond Bourse at Bandra-Kurla Complex, had filed an FIR in April, stating that Shah and Sanghani had met him at a diamond exhibition at Goregaon and exchanged contact details. Posing as diamond businessmen from Gujarat, Shah and Sanghani invited him to their office in a mall in Khar to talk about diamond and gold business, said the police.
Shah and Sanghani initially took diamond ornaments worth Rs 1.25 crore from the trader, sold them, and gave him the proceeds. "This was done to gain his trust," said a police officer.
Later, they took diamond and gold ornaments worth Rs 22.75 crore, but did not give money him any money. When the trader inquired at their office in Khar, he learnt it was shut down, the police said.
EOW, led by joint CP Nishith Mishra, DCP Mangesh Shinde, and inspector Nitin Patil, arrested Shah from his rented office at Vile Parle. Kadam was held in Panchgani, Sanghani from Jaipur.
Shah and Sanghani are each pointing to the other as the key accused, the police said, adding that they were stunned to see each other in police custody
