As part of the Alpha Files investigation into the business dealings of Mehul Choksi and Nirav Modi, Republic TV spoke to Digvijaya C Jadeja, a businessman who had invested with Choksi, MD of Gitanjali Gems.
Speaking to Republic TV's Prema Sridevi, Mr Jadeja narrated how he had invested 106 kg of Gold, worth Rs 35 lakh at the time, based on the overtures of Mehul Choksi's business development team in 2010. The owner of multiple outlets, Mr Jadeja was promised an annual interest at a rate of 12% on the gold he had invested, to be paid on a monthly basis, but was only paid in the initial months.
He said he repeatedly requested Choksi over the next year, receiving "sugar-coated" treatment, and got several promises that he would get his returns. He claims he was introduced to Nirav Modi over a lunch with Mehul Choksi. However, despite everything, the returns he was promised never materialised, leading him to believe he was being cheated.
As per Mr Jadeja, in August 2014, he initiated legal proceedings against Mehul Choksi, whom he says has "cheated" in a number of ways, not limited to the bank fraud. Furthermore, Mr Jadeja says many many more people were similarly 'duped'.
Mr Jadeja also alleged Choksi threatened to entrap him in a false case if he made any further demands for a return of his gold bars.
On Monday, as part of the Alpha Files, Republic TV spoke to Santosh Srivastav, former President and MD at Gitanjali Gems who detailed an alleged fake diamond operation run by Choksi and also shed light on the purported round-tripping of diamonds.
Republic TV also spoke to the auditors of PNB, who went on record for the first time to state that they had flagged the fraud undertakings of diamond czars a number of years ago, as well as businesspersons who had taken up Gitanjali franchises.
Earlier, the Alpha Files had vastly expanded the size, scope and scale of the Mehul Choksi-Nirav Modi scam and also showed, how despite a court order, the Police in Karnataka went slow on Mehul Choksi.