Archive · 3 Jan 2026
Sales Executive and Broker Accused of Rs 2.95 Crore Fraud
A sales executive named Dhaval Patel and a broker named Kaushik Sutaria are accused of cheating a diamond company called Kira Diam LLP.
They allegedly took diamonds worth Rs 2.95 crore from the company and did not pay for them.
The company's manager, Jignesh Bhayani, noticed something was wrong when Patel did not return to work and could not be contacted.
The police have filed a case against Patel and Sutaria for cheating and breach of trust.
The company is located in the Bharat Diamond Bourse in BKC, Mumbai, and deals with buying and selling diamonds.
The accused are currently at large and the police are searching for them.
Dhaval Patel, a sales executive, and Kaushik Sutaria, a broker, are accused of duping Kira Diam LLP of Rs 2.95 crore.
The fraud involved six transactions between September and December 2024.
Patel allegedly sold diamonds to other firms and created fake bills to cover up the fraud.
The company's manager suspected foul play when Patel went missing and did not return to work.
A case of cheating and breach of trust has been registered against Patel and Sutaria at the BKC police station.
- Who
- Dhaval Patel (Sales Executive) and Kaushik Sutaria (Broker)
- What
- Accused of duping a diamond company of Rs 2.95 crore
- When
- Between September and December 2024
- Where
- Bandra-Kurla-Complex (BKC), Mumbai
- Why
- To allegedly cheat the company by not paying for the diamonds sold
- Accused Individuals
- Dhaval Patel (Sales Executive), Kaushik Sutaria (Broker)
- Company Involved
- Kira Diam LLP
- Amount Involved
- Rs 2.95 crore
- Location of Company
- Bharat Diamond Bourse, Diamond Market, BKC Bandra (East)
- Complainant
- Jignesh Bhayani (Manager, Kira Diam LLP)
- Period of Fraud
- September to December 2024
- Police Station
- Bandra-Kurla-Complex (BKC) Police
- Charges Filed
- Cheating and Breach of Trust
