Mumbai: Father-Son Duo Arrested for Cheating Diamond Merchant of ₹1.93 Crore Worth of Diamonds on Credit

The BKC police have arrested a father-son duo wanted in a major cheating case involving ₹1.93 crore worth of diamonds. The accused have been identified as Kishor Abhangi and his son Maulik Kishor Abhangi. Both are currently in police custody and are being interrogated thoroughly in connection with the offence.

The complainant, Priyank Mahendrakumar Shah, is a diamond trader residing in Tardeo. He owns K. Aarin Jewels, while his brother Sudeep Shah runs another diamond business under the name Aryan Impex. Both companies operate from the Bharat Diamond Bourse premises in Bandra Kurla Complex (BKC). Kishor Limbasiya, a diamond broker known to the Shah brothers for the past five years, also operates from the same premises.

In September 2024, Limbasiya introduced the Shahs to Kishor Abhangi, another diamond trader who owns Parth Diamond, a company with offices in both BKC and Surat, Gujarat. Over a short period, the two sides built a business rapport. On September 18, 2024, Kishor Abhangi and his son Maulik visited the Shahs’ office with Limbasiya and claimed to have a reputed client in need of high-quality diamonds. Based on this assurance and Limbasiya’s personal guarantee, the Shahs agreed to supply diamonds on credit.

Having previously done business with the Abhangis, Priyank Shah trusted them and handed over 459 carats of diamonds worth ₹1.93 crore to Kishor and Maulik Abhangi on credit. The duo promised to confirm the transaction details within a few days and left with the diamonds.

A week later, when Shah contacted them, the accused claimed they had shown the diamonds to the client and the deal would soon be finalized. However, even after a month passed, there was no further update. Suspicious, Shah visited the Parth Diamond office at BKC only to find it shut. Upon inquiring with Kishor Limbasiya, he learned that neither Kishor nor Maulik had been seen at the office for several days. Repeated calls to their phones went unanswered, and their phones appeared to be switched off.

Realizing that the father-son duo had fled with the diamonds under the pretext of showing them to clients, Shah approached the BKC police and filed a formal complaint. After verifying the complaint, police registered a case of criminal breach of trust and cheating against the duo.

Despite several efforts, the accused evaded arrest for seven months. Eventually, a special team from BKC police tracked them down and took them into custody. Further investigations are underway to trace the stolen diamonds and uncover any possible accomplices involved in the fraud.