Two persons, who posed as diamond merchants at a Worli mall and allegedly cheated several diamond traders of lakhs of rupees, were arrested on Thursday.
The police are on the lookout for their two accomplices.
The accused would promote their office as a three-star diamond shop and buy the precious stone from traders, police said.
The two arrested accused, Hemant and Mehul Shah, worked there as experts, while the duo who rented the shop is on the run.
The Worli police said that the shop had been rented out to the accused for several months. The accused would buy diamonds using cheques of private banks, but the cheques would bounce.
Since their office space was lavish and seemed authentic, the traders did not usually get suspicious and the accused would claim that the pending amount would be cleared soon.
On November 22, two traders approached the police claiming they had been cheated of Rs23.58 lakh. A case was registered against the four accused.
“The accused told the complainants they needed more time to pay them, and later fled with the diamonds,” said Tanaji Telvekar, inspector, Worli police.”
Hardik Hundiya, diamond market expert told HT, “There are at least 15 more persons who have been cheated by the accused, the amount could be to the tune of Rs. 2 to Rs. 2.5 crore.”
Guard hurt while foiling jewellery store robbery
A group of six men allegedly assaulted a 42-year-old security guard of Shyamkamal society, Vile Parle (East) after he spotted them trying to break into a jewellery store early on Friday.
The guard, who foiled the robbery attempt, sustained minor injuries in the attack, police said.
The guard, Kapildev Dubey raised an alarm after he saw the robbers trying to break into Jai Sarvamangal jewellers at around 5.45 am.
Two of the accused then hit Dubey on the knee with an iron rod, while the others tried to break into the shop. However, when they were unsuccessful, they fled on three bikes, said the Vile Parle police.
“On the basis of Dubey’s description, we are preparing their sketches. The CCTV cameras outside the store were turned off,” said an officer. A case of attempt to robbery has been registered against unidentified accused.