Marketing executive booked for pocketing jewellery firm’s ₹1.22 crore

A marketing executive in Mumbai has been booked for allegedly stealing ?1.22 crore from a firm dealing in precious stones and metals. The executive, Soni Sakharia, was appointed as a distributor for the firm and was supposed to sell jewellery worth ?1.23 crore within 30 days. However, he neither sold the jewellery nor returned it, and it was discovered that he had pocketed the money. The police have booked Sakharia and are currently searching for him.

MUMBAI: A marketing executive has been booked for allegedly pocketing ₹1.22 crore belonging to a firm dealing in precious stones and metals.

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According to the police, the accused identified as Soni Sakharia worked with PT 950 World of Platinum, a firm run by complainant, Pankaj Jain, and his wife Puja, since August 2020.

“The complainant had worked with the accused in a similar business previously and they knew each other since 2012. Jain then appointed Sakharia as the distributor of jewellery manufactured at their factory in MIDC, Andheri East, for Tamil Nadu,” a police official said, adding, the company also made living arrangements for Sakharia in Chennai.

In June 2022, the company sent Sakharia diamond, gold and platinum jewellery worth ₹1.23 crore to sell them through retailers in Tamil Nadu, the police said. “Sakharia was supposed to sell the jewellery within 30 days, deposit the amount to the company account and return any unsold jewellery. However, he neither deposited any money, nor did he return the wares for the next couple of months,” the officer said.

When the Jains tried to get in touch with Sakharia, he did not take their calls. After that, the company got in touch with some of the retailers. “The retailers told the company that they had already purchased the jewellery in question from Sakharia. This made the complainant realise that their marketing executive had pocketed all the money from the sales,” the police added.

The Jains then approached the MIDC police on Thursday. “We have booked Sakharia under sections 408 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code and are on the lookout for him,” the officer added.