Diamond firm partners booked for 10.48cr fraud

Surat: Four partners of a Surat diamond firm have been booked for cheating a diamond trader of Rs 10.48 crore. The accused allegedly bought diamonds worth Rs 17.84 crore and returned money and valuables worth only Rs 7.44 crore. As the accused failed to repay Rs 10.48 crore, finally the complainant filed a cheating complaint with Varachha police.According to the complaint by Rahul Mangukiya, he has been running a diamond firm in Dubai since Nov 2024. In Jan 2024, Dipak Moradiya and Ganesh Moradiya came to Mangukiya's home in Varachha. They told Mangukiya's father, Manu, about their diamond firm Varniraj Enterprise with their partners Rinkal Moradiya and Ketan Moradiya. They said they buy roughs from Surat, Dubai and Africa and get them polished. Manu informed his son about the accused wanting to buy diamonds from them.As the accused promised timely payment, Rahul Mangukiya sold them 14,433 carats of diamonds worth $1,966,000 (Rs 17.44 crore) through five bills from June to Oct 2024. As the accused did not make payment, the matter reached Surat Diamond Association. After the association's intervention, the accused returned diamonds worth Rs 7.16 crore and machinery worth Rs 28 lakh to the complainant, but failed to make payment for the remaining $1,151,000 (Rs 10.47 crore).
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