Shocking Scam: Father-Son Duo Dupes Mumbai Diamond Merchant of Rs 1.9 Crore; Police Launch Intense Manhunt for Accused
The diamond fraud case unfolded when Priyank Shah, a diamond service provider in Mumbai, met Kishore Abhangi, who turned into brought because the director of Parth Diamonds by using a diamond broking named Kishore Limbasia. The preliminary meeting happened lower back in September, and Shah, a seasoned service provider, changed into caused accept as true with that Abhangi turned into a reputable professional within the diamond business.
some days later, the diamond broker, Kishore Limbasia, brought Shah to Kishore Abhangi and his son Maulik Abhangi. the father-son duo claimed to have a excessive-profile customer in need of top rate-quality diamonds. They asked Shah handy over 459 carats of diamonds, well worth Rs 1.ninety two crore, for this meant patron.
Having acknowledged Limbasia for the beyond 5 years and trusting him, Shah, without hesitation, passed over the diamonds to the Abhangis. however, what observed become a classic scam – after receiving the diamonds, the father-son duo disappeared, and Shah turned into left with nothing however a large economic loss.
Police investigation and Manhunt for the Accused
Upon realizing that he were scammed, Priyank Shah right away filed a complaint with the Mumbai Police. Police officers registered a case of fraud in opposition to the accused and initiated a thorough investigation. Kishore and Maulik Abhangi at the moment are at the run, and the police have launched a manhunt to song down the duo.
The government are searching into the backgrounds of the accused, in addition to the position of Kishore Limbasia, who delivered the father-son pair to Shah. Police are trying to determine whether Limbasia become an unwitting a part of the scheme or whether he had previous knowledge in their fraudulent intentions.
The impact of the rip-off at the Diamond industry
This diamond fraud case has raised critical concerns inside the diamond trading network in Mumbai. referred to as the hub of India’s diamond enterprise, the city sees a giant number of transactions in diamonds, which might be often really worth crores of rupees. Fraudulent practices like this one undermine the trust and integrity of the marketplace, making it vital for diamond merchants to exercising warning while coping with unfamous customers or dealers, especially while large sums of money and treasured assets like diamonds are involved.
The incident also highlights the developing vulnerability of businesses in the luxury goods sector, wherein excessive-price transactions can be easily manipulated. because the case maintains to spread, many inside the diamond alternate are hoping for a rapid decision, with the arrest of the accused and restoration of the stolen diamonds.
Vigilance wanted in the Diamond trade
This diamond rip-off is a reminder of the want for vigilance and due diligence whilst conducting commercial enterprise in industries handling valuable assets. The Mumbai Police are running tirelessly to locate the father-son duo and recover the stolen diamonds. As investigations progress, diamond merchants are urged to verify the credentials of ability customers and companions to avoid falling sufferer to comparable frauds.
this example serves as wake up call for everybody worried in high-stakes enterprise dealings, specifically inside the luxury items quarter, in which the stakes are high and the risks are substantial.