Mumbai Police Probe ₹34.75 Crore Diamond Scam; Vivek Oberoi Named in EOW Inquiry
The Economic Offences Wing (EOW) of the Mumbai Police has launched a preliminary enquiry into an alleged ₹34.75 crore diamond fraud involving Cupid Diamonds Pvt Ltd. The case has drawn attention after Bollywood actor Vivek Oberoi was named among three individuals accused of cheating, forgery, and issuing bounced cheques.
The complaint was filed by Nimesh Piyush Mehta, also known as Tony, director of Cupid Diamonds. He has alleged that he was systematically defrauded over several years through a well-planned business arrangement that ultimately led to massive financial losses.
According to the police, the enquiry names Satish Daryanani, Ricky Vasandani, and Vivek Oberoi as the accused. The alleged offences are said to have occurred between 2021 and September 2025.
Investigators say the accused initially gained Mehta’s trust by purchasing small quantities of diamonds and making prompt payments. Once confidence was established, they allegedly proposed a larger deal, offering a 25 per cent stake in the Dubai-based IPO of a company called “Solitario Diamonds.”
However, after obtaining high-value diamonds in bulk, the accused reportedly issued post-dated cheques that later bounced after payments were stopped. The complaint further claims that forged documents were used during the transactions, including falsified signatures of Milan Shah, the second director of Cupid Diamonds, along with fake company logos, labels, and stamps.
Adding to the alleged deception, police officials said the accused attempted to mislead the complainant by sending low-quality diamonds via courier, falsely claiming that the original stones had been returned.
The EOW is currently examining the complaint and supporting documents as part of the preliminary enquiry. Further action will depend on the findings of the investigation.
News Source : Information for this article was gathered from a variety of reliable news outlets.
