Surat : Diamond Brokers Arrested for Defrauding Traders of Rs 5.46 Cr

In two separate cases, the police have arrested two diamond brokers from the Surat diamond market who defrauded diamond traders for Rs 5.46 crore


SURAT, GUJARAT : Surat police have apprehended  two diamond brokers in two separate incidents for cheating the diamond traders without settling dues amounting to a staggering Rs 4.46 and Rs. 1 crore respectively.

In the first case, the accused, identified as Vipul Bodhra, reportedly colluded with an accomplice named Vijay to procure diamonds worth Rs.4.46 crore on credit from traders in Varachha. Subsequently, the duo vanished, leaving the traders in a lurch.

The incident came to light when a complaint was lodged at the Varachha police station, prompting authorities to initiate an investigation. On Thursday, one of the suspects, Vipul Bodhra, was successfully apprehended by the police, while efforts are underway to apprehend his associate, Vijay.

In a separate case, another diamond broker found himself embroiled in a similar controversy involving a diamond valued at Rs 1.09 crore. The broker, identified as Alpesh Miyani, allegedly defrauded traders by failing to return the diamond or the payment after initially borrowing it from Balaram Impex, located on Daliya Street in Surat’s Mahidharpura diamond market.

According to police sources, Praveenbhai Manjibhai Gotti, the proprietor of Balram Impex, lodged a complaint with the Mahidharpura police station after Alpesh Miyani absconded with the diamond. Police subsequently arrested Alpesh Miyani and commenced further investigations into the matter.

Last March, Alpesh Vallabhbhai Miani, residing in Vijayaraj Society in Singanapore, purportedly failed to return a natural diamond worth Rs 1 crore to traders after borrowing it for showcasing to potential buyers. Despite repeated inquiries by Praveenbhai Gotti, Alpesh Miyani allegedly evaded providing satisfactory answers and eventually disappeared, prompting the lodging of a police complaint.

The Mahidharpura police have taken Alpesh Miyani into custody and are delving deeper into the case. Furthermore, there are reports indicating that Alpesh Miyani may have defrauded other traders in the Varachha diamond market as well.