The Economic Offences Cell (EOC) of the Detection of Crime Branch has arrested two diamond traders, Pancha alias Hanu Shingad and Nilesh Shah, for their alleged involvement in a Rs6 crore cheating case. The fraud involved lab-grown and natural diamonds that were delivered to the accused but never paid for, beginning in August 2022.
According to the police, the accused, along with nine others, took delivery of the diamonds from Dhanesh Sanghvi, who runs a diamond and jewelry business, but failed to make the promised payments. Despite numerous attempts by Sanghvi to recover his dues or the diamonds, the matter culminated in a criminal breach of trust, cheating, and criminal conspiracy complaint being lodged.
Sanghvi revealed that Shingad approached him in 2022, claiming to be an established diamond businessman with a reputable standing in the industry. Trusting his credentials, Sanghvi supplied diamonds for several orders. Initially, the accused made payments, but soon after, they stopped.
While Shingad and Shah have been arrested, the police are still searching for the remaining suspects, including Hitesh Gudala, Hitesh Purohit, Hanu Sapramer, Navin Soni, Parag Mehta, Ashok Patel, Raju, Vipul Patel, and Vigul Vaghani.
