Woman dupes diamantaires of Rs 50cr

Surat: Around 22 diamond merchants in Surat and Mumbai have been duped of at least Rs 50 crore by a woman trader from Malad.
The woman, who is said to be a native of north Gujarat but settled in Mumbai, had purchased diamonds from Surat merchants in Mahidharpura in the last few months. As per the prevalent informal system, she got the diamonds on credit but then did a disappearing act two days ago.
Sources in the Surat and Mumbai diamond markets told TOI that the woman had employed six female employees to run her cheating racket.This is the first time that diamond merchants in Surat have been cheated by a woman trader.
Besides Surat, she had also purchased polished diamonds from traders in in Opera House and Bandra-Kurla Complex (BKC).
Malad's diamond market sources said her mother too had defaulted on payments to the traders some 15 years ago.
"She had six women employees, who would go out to deal with traders in Surat and Mumbai. These were good looking women who enticed the traders into deals. In the last six months, they purchased huge quantity of diamonds from traders in Surat and Mumbai and disappeared," said a diamond trader in Malad, requesting anonymity.
"We went to her office in Malad but it was locked. The traders had to break open door and enter. Some of them are even considering filing a police complaint against her," he said.
Dinesh Navadiya, regional chairman of Gems and Jewellery Export Promotion Council (GJEPC) said, "The picture of the woman trader is being circulated widely on social media in the diamond circles. We have advised traders to approach police in their respective areas and lodge a cheating complaint against her."
In the last 18 months or so, Surat diamond traders have lost nearly Rs 2,000 crore in defaults.