Diamond Merchant Suspected of $2.6m Theft
April 10, 24
(IDEX Online) - A diamond merchant from Mumbai, India, has been arrested on suspicion of stealing $2.6m of goods from a fellow merchant.
Police at the city's Bandra Kurla Complex - home to the Bharat Diamond Bourse (BDB) - say they arrested Shalin Shah, 42, for allegedly stealing the diamonds and his wife Jalpa, 39, who is accused of aiding and abetting by accepting some of the diamonds as gifts.
Shah is alleged to have stolen diamonds weighing a total of 3,062 carats from another trader, Haresh Kasodariya, who filed a complaint last month.
Kasodariya, based at BDB, told police that Shah had sold high-value diamonds but failed to pay him for them and kept making excuses. He said he'd worked with Shah, and trusted him, for seven years.
Police said Shah had evaded the authorities for more than three weeks in India - Lucknow and Jaipur - and in Nepal.
Pic show Bharat Diamond Bourse