As Zaveri had previously sold the complainants diamond he trusted him and gave him diamonds worth Rs 1.73 crore in exchange for a promissory note. “The complainant had given diamonds from January 16 to 24 in exchange for a promissory note,” said a police officer. Zaveri and his two accomplices Dinesh Bhalse alias Jay and Sharad Halde had been booked by the BKC police station under Sections 409 (breach of trust) and 420 (cheating) of the Indian Penal Code.

Dinesh Bhalse alias Jay had also accompanied Zaveri to convince the complainant to give the diamonds. The complainant then tried to contact Zaveri and asked him whether he had sold the diamonds after he promised him that he would. But on January 30, Zaveri did not give any satisfactory answer and then switched off the phone and went incommunicado.

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According to the police, Zaveri had allegedly duped several diamond traders across the city from November 2023 to February 2024. Previously, Zaveri had been booked by the BKC police for allegedly swindling Rs 7.50 crore and had been arrested on February 15. After investigation, the police then arrested two of his associates.

Rs 1.73 cr
Valuation of diamonds swindled from Anand Shah