Over the course of Republic TV's investigation into the stunning Rs 11,400 crore Nirav Modi-PNB alleged Bank fraud which resulted in a deep throat revealing the Alpha Files, an account of how the current Letter of Undertaking (LoU) scam is apparently just the tip of the iceberg, a insider source has shed light on a purported fake diamond operation run by Nirav Modi's uncle Mehul Choksi.
Speaking to Republic TV's Prema Sridevi, insider and former President and Managing Director at Gitanjali Gems Santosh Srivastav laid bare the alleged fake diamond scam that Choksi ran for a number of years.
What's most notable about the revelations is the sheer number of unsuspecting people who were affected.
Here are some of the allegations:
- The ultimate insider in this first story has exposed how fake diamonds were allegedly grown in labs were mixed and sold to the customer as real diamonds
- Unnatural diamonds that were created in chemical labs were sold at ten times the price to customers as real diamonds.
- Mehul Choksi allegedly scammed even top celebrities by selling fake diamonds to them.
- The insider revealed that there were more than 10,000 people buying fake diamonds every month.
- Choksi allegedly inserted copper wires and plates in Gold jewellery as well.
- The ultimate insider has exposed how Choksi allegedly manipulated prices by 15-20% every month on his own and thrust that bloated overpriced diamond on every franchise owner to make them helplessly complicit in duping the buyer.
- The ultimate insider reveals the thuggery in which not just the franchise owners were allegedly duped but also throws light on the allegations that Choksi asked for fake audit reports to be prepared to justify the alleged duping of franchise owners.
Watch Republic TV's Editor-in-Chief Arnab Goswami and Prema Sridevi expound and present a report on the matter in the video above, followed by the interview with the insider, a former President at Gitanjali Gems.