LT Marg police arrested Dilip Sampatraj Jain (44), a sales executive, and his brother Vikram Sampatraj Jain (44) for allegedly misappropriating 3.5 kg of gold jewellery worth Rs 3 crore belonging to their employer, a wholesale mangalsutra trader in Kalbadevi. Both were remanded to police custody after being produced before court.
The complaint reveals a systematic fraud spanning from April 2024 to March 2025. Dilip, employed by “Shri Ambika Gold,” was tasked with supplying mangalsutras to traders in Andhra Pradesh and Telangana. He regularly traveled with jewellery stock, selling to traders and collecting payments via cash or bank transfers.
An audit in March 2025 uncovered a shortage exceeding 3 kg of jewellery. Upon confrontation, Dilip claimed the gold was sold and bills would be issued post-April 1. However, inquiries with traders confirmed no such sales. Investigations further revealed that large sums were transferred into Vikram’s account.
Police recovered 1.5 kg of 18-karat gold during the probe, and investigators allege the brothers diverted business funds for personal gain.
