Mumbai: At least seven persons including an agent have been arrested for allegedly cheating several Mumbai jewellers of diamonds worth around Rs 27 crore, said a senior police official.

According to the complaint lodged by diamond traders, Yatish Pichariya, a broker, and his accomplices took diamonds from all of them promising to find buyers but disappeared afterwards. An investigation into the case revealed that Pichariya stayed at several places, including Uttar Pradesh, Punjab, Rajasthan and Bihar, and also visited the ongoing Kumbh Mela at Prayagraj under a sadhu’s garb.

He returned to Mumbai when he could not sell the stolen diamonds, said Deputy Commissioner of Police (DCP) Anil Kumbhare. The police arrested him on Tuesday, January 29, after receiving a tip-off.  That led to the arrest of the other accused, he added.

The police recovered Rs 38 lakh worth of stolen diamonds from them. The accused have been booked under the Indian Penal Code (IPC) sections 409 (criminal breach of trust), 420 (cheating) and other relevant offences.

As many as 25 diamond traders had lodged a complaint with Bandra Kurla Complex (BKC) police station about the theft in December 2018.

Last year, a jeweller in Uttar Pradesh’s Kanpur reported a theft of Rs 140 crore worth of gold and jewels with the police. The shop where the alleged theft had been reported was an equal partner shop that was closed on May 30, 2013, after the dispute. A court in Kanpur had sometime back ordered the shop to be opened by the police in presence of both partners.

However, the alleged theft had taken place just before it could be reopened.