Mumbai: Bandra-Kurla Complex (BKC) police have registered a case against three directors of a Chicago-based company for allegedly defrauding a diamond merchant from the city of nearly Rs 5.4 crore.
No arrests have been made so far.

The accused approached the complainant’s Grant Road-based company to purchase lab-grown diamonds through a broker, said police. The FIR stated that between Sept 23, 2022, and July 25, 2023, the complainant supplied the Chicago firm with 3,490.77 carats of diamonds valued at Rs 18.6 crore. The accused provided 50% security deposit, calculated on the diamonds’ worth, to the complainant’s company as stipulated in their MoU. They returned a portion of the diamonds as agreed, but allegedly kept the remaining gems without providing payment, resulting in a loss of Rs 5.4 crore to the complainant. The diamond merchant then filed a complaint with BKC police. tnn