A trader operating from the Surat Diamond Bourse (SDB) has alleged that his employee cheated him of Rs 4.87 crore by diverting funds intended for a diamond purchase to two unrelated firms. The Rander police have registered a cheating case against the accused, Nikunj Trivedi, as the transaction was carried out through a bank branch in Adajan.
Background of the case
According to the complaint, Ritendra Solanki, a resident of Indore, runs Ornex Diamonds Pvt Ltd, which operates from both SDB and Mumbai. Around one-and-a-half years ago, Solanki was introduced to Trivedi through Mumbai-based acquaintances Kishor Dave and Ishaq Kapadiya. Based on their recommendation, Solanki hired Trivedi to manage banking transactions, accounts, and diamond purchase orders.
Police said Trivedi had been entrusted with handling bank deposits, cheques, and other financial transactions for the past few months.
Details of the alleged fraud
On June 16, Solanki was scheduled to make a payment of Rs 4.87 crore to a Delhi-based diamond firm for the purchase of diamonds. He instructed Trivedi to prepare eight cheques of Bandhan Bank for an RTGS transfer and accompanied him to the bank’s Adajan branch. According to the complaint, after reaching the bank, Trivedi went inside while Solanki remained in the car. About 15 minutes later, Trivedi returned and informed him that bank officials required the account holder’s physical presence to complete the transaction. Solanki then entered the bank, where the RTGS process was completed after verification.
After leaving the bank, Trivedi allegedly told Solanki that he was unwell and wished to return home. Solanki, meanwhile, proceeded to the railway station to catch a train to Mumbai.
Discovery of the fraud
The alleged fraud came to light shortly thereafter when the Delhi-based supplier informed Solanki that the payment had not been received. On checking his bank statement, Solanki found that Rs 3.70 crore had been transferred to Factory Desk Supply Pvt Ltd and another Rs 1 crore to Globe Industries Company, both based in Mumbai, instead of the intended recipient in Delhi.
When Solanki tried to contact Trivedi, the latter allegedly stopped responding to calls. Suspecting foul play, Solanki approached the Rander police and lodged a complaint.
Police investigation
Police said the accused allegedly entered the names of the Mumbai-based firms in the RTGS documents instead of the Delhi diamond company specified by Solanki. Further investigation is underway to trace the funds and establish the role of the recipient firms in the transaction.
