The Mumbai crime branch has apprehended a Bhuleshwar-based angadia, Rakesh Mandalia, in connection with a multi-crore gold trading fraud and extortion case involving threats allegedly issued in the name of the notorious 'D-Company.' The 50-year-old resident of Borivli was arrested by the anti-extortion cell for cheating and issuing threats to a gold and silver trader.
According to police, the complainant had been purchasing 24-carat gold pieces from Divya Diamond for the past two years and selling them to jewellers across Mumbai. The payments collected from customers were allegedly routed through Mandalia, who operated through an angadia firm based in Bhuleshwar and was trusted by many traders in the area.
Between January 22 and January 28, the complainant purchased approximately 1.7 kg of gold worth Rs 2.79 crore. The gold was sold in the market, and customers allegedly deposited the payment with Mandalia for transfer to Divya Diamonds. However, Mandalia failed to transfer the money and later claimed there was an 'income tax problem,' stating that he had temporarily left Mumbai.
When the complainant and his associates visited Mandalia's office in Bhuleshwar, his father-in-law, Ramesh Prajapati, allegedly warned them not to create trouble and referenced connections with the 'D-Company.' Later, at Mandalia's residence, his wife, Dharini Mandalia, repeated similar threats and warned them against returning for their money.
The complainant subsequently received WhatsApp calls from an international number used by a person identifying himself as 'Haji Bhai,' who allegedly threatened to kill him and demanded Rs 1 crore as a 'penalty' for approaching the police.
Based on the complaint, an offence was initially registered at JJ Marg police station under multiple sections of the BNS related to cheating, criminal breach of trust, extortion, and criminal intimidation. The case was later transferred to the anti-extortion cell for further investigation.
Investigators have seized four mobile phones submitted by the complainant for technical analysis and are recording statements of witnesses. Police informed the court that Mandalia, along with his wife, father-in-law, and the alleged Dubai-based caller, conspired to misappropriate the gold sale proceeds and threatened the complainant into silence.
The investigation is ongoing, and authorities are probing the alleged involvement of the 'D-Company' in the threats.
