Broker dupes Bharat Diamond Bourse’s diamond merchant of ₹40 lakh

MUMBAI: Police hunt for diamond broker Jaynish D, accused of cheating a trader of ₹40 lakh by failing to pay for delivered diamonds.

MUMBAI: The police have launched a manhunt to trace a diamond broker on Wednesday, accused of duping a diamantaire of ₹40 lakh. The accused who acquired the diamonds did not make the payment and later absconded, said a police officer.

Broker dupes Bharat Diamond Bourse’s diamond merchant of ₹40 lakh

According to the police, the diamond merchant, Manoj Amdavadi, 38, owns a diamond trading firm in Bharat Diamond Bourse in BKC. His sales executive, Dhirukrishna Shorewala, is responsible for placing and accepting orders from clients. The accused, Jaynish D, 40, got in touch with Shorewala in 2024. He used to place orders through a call and get the diamonds delivered to an address given by him. Initially, he was carrying out payments in time and gained Shorewala’s trust. He placed four orders of high-quality diamonds between February 28 and April 10 last year. The diamonds were delivered to his address as usual, said a police officer.

Two days later, Shorewala contacted him for the payment. Jaynish informed him that he was showing the diamonds to his client and would make the payment soon, once the diamonds were sold.

After several months of delaying the payment, Jaynish’s phone number was no longer reachable, and he was also not available at his address. Realising that they had been duped, the owner of the diamond trading firm, Amdavadi, approached the BKC police station and submitted a written complaint.

On Wednesday, the police registered a case against Jaynish under section 420 (cheating) and 409 (breach of trust) of Bharatiya Nyaya Sanhita and are searching for him.