Farah Khan Ali, DJ Aqeel Ali’s wife, files complaint against COO over Rs 5.88-cr fraud

Ali alleged Tharaney, who had the right to purchase diamonds for the firm, used to ask diamond suppliers to overbill the company and then take the extra amount from the suppliers in cash.

Farah Khan Ali, a jewellery designer and wife of disc jockey Aqeel Ali, filed a complaint against Vivek Tharaney, chief operating officer (COO) of her company Farah Khan Fine Diamond Pvt Ltd, for embezzling her firm off Rs 5.88 crore by over billing.

File photo of jewellery designer Farah Khan Ali (File Photo)

Ali alleged Tharaney, who had the right to purchase diamonds for the firm, used to ask diamond suppliers to overbill the company and then take the extra amount from the suppliers in cash. A copy of the complaint is with Hindustan Times.

A police officer said, “We have registered an FIR against Tharaney under sections 420 (cheating), 406 (criminal breach of trust), and 408 (criminal breach of trust by clerk or servant) of the Indian Penal Code (IPC).”

According to the complaint, Ali had incorporated the company in 2013 and Tharaney, 46, was appointed COO the same year. He was also given 20% of the company’s shares.

Ali added that between 2013 and 2019, Tharaney dealt with 61 diamond suppliers for business worth ₹83 crore, and in the process, overbilled the firm to the tune of ₹5 crore. In addition, Tharaney allegedly misused his power and procured 44 types of jewellery worth ₹88.32 lakh without paying the company, bringing the total amount to Rs 5.88 crore.

The designer said that she came to know about the fraud in July 2019 when a diamond supplier, Ashish Tholiya, informed her that Tharaney sought commission for every deal and asked him to over bill the firm by as much as 12% of the market value.

When contacted, Ali refused to comment saying that the matter is in court. Tharaney, too, refused to comment.