Mumbai: Diamond Broker Absconds With Rs 98 Lakh Worth of Diamonds From BKC Trader; Case Registered

A shocking case of fraud has emerged from Mumbai’s Bandra-Kurla Complex (BKC), where a diamond broker allegedly disappeared with diamonds worth ₹98.60 lakh belonging to a local diamond trader. The BKC police have registered a case of cheating in the matter.

According to police, the complainant, Vipulbhai Dhami (47), runs a diamond trading company named Dhami Enterprises, with its office located in BKC. Several diamond brokers frequently visit the office for business transactions. One such regular broker, Jignesh Mehta, introduced Dhami to a company called Palash Enterprises on 16 April 2025. Mehta assured Dhami that the company was reputable and in need of high-quality diamonds.

Following this, Dhami got in touch with Palak Mehta, who claimed to represent Palash Enterprises. Palak Mehta then purchased a consignment of diamonds weighing 328.67 carats, valued at ₹98.60 lakh, from Dhami. He promised to complete the transaction and make the payment within 15 days. Dhami had issued the diamonds along with a formal receipt.

However, even after 15 days, the payment was not made. When Dhami followed up, Palak Mehta began evading him and eventually became unreachable as his phone was switched off. Upon further inquiry, Dhami discovered that Palak Mehta had allegedly defrauded several others in a similar fashion.

Realising he had been duped, Dhami approached the BKC police station and filed an official complaint against Palak Mehta. The police have registered a case under Sections 316(5) and 318(4) of the Bhartiya Nyaya Sanhita related to cheating and criminal breach of trust.

The investigation is currently underway.