In a startling turn of events that had been appearing to be one of the largest heists of diamonds that ever happened in Surat, the police have come out to state that the actual heist was a sham and was actually staged by the company that had filed the heist report. Surat Police Commissioner Anupam Singh Gehlot said DK & Sons Diamond Company, which was already in financial difficulties, planned the heist in an elaborate insurance fraud.
The move by the company to ensure itself came literally a week before the purported theft, as the company had taken an insurance cover of about 20 crores. Its managing director, Devendra Kumar Chaudhary, told the Times of India on Monday that a group of burglars broke into the diamond unit over the weekend, gained entrance to the unit through the main door and broke open a safe on the third floor using a gas cutter. According to the company, the safe contained rough and polished diamonds to the tune of 25-30 crores in value. They also made the charges that the robbers broke the CCTV cameras and carted away the recorder, and wiped out crucial evidence.
Nevertheless, the police investigation was telling another story. Gehlot even stated that this locker was empty of diamonds. Rather, the managing director of the firm, his son and the driver had employed a man in the firm of a gas cutter to simulate a burglary attempt. The criminals went as far as putting 5lakh rupees in the safe to compensate those who carried out the fake crime. The complainant and his fellows are currently being prepared to face charges of theft, conspiracy, and insurance fraud.
It has spread shockwaves. Surat, the world capital of diamond polishing, where eight out of ten diamonds smelted globally are polished. Already, the industry is under intense pressure following the drop in global demand, supply chain problems and the American restrictions on the polished diamonds mined from Russian rough diamonds, which make up almost one-third of Surat’s supply. The scam puts emphasis on the economic desperation that exists in part of some diamond companies in the face of deteriorating economic conditions.
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