Surat: A diamond trader operating from the Surat Diamond Bourse (SDB) has accused his employee of siphoning off Rs 4.87 crore by diverting funds meant for a diamond purchase to two Mumbai-based firms. Rander police have registered a cheating case against the accused, Nikunj Trivedi.

According to the complaint, Ritendra Solanki, an Indore resident and director of Ornex Diamonds Pvt Ltd, had hired Trivedi around 18 months ago on the recommendation of business associates to handle banking operations, accounts and diamond procurement-related transactions.

Police said that on June 16, Solanki instructed Trivedi to process an RTGS payment of Rs 4.87 crore to a Delhi-based diamond company and accompanied him to Bandhan Bank’s Adajan branch. After the transaction was completed, Solanki left for Mumbai while Trivedi reportedly went home, citing ill health.

The alleged fraud surfaced when the Delhi supplier informed Solanki that the payment had not been received. On checking bank records, he found that Rs 3.70 crore had been transferred to Factory Desk Supply Pvt Ltd and Rs 1 crore to Globe Industries Company, both based in Mumbai.

When Solanki tried contacting Trivedi, he allegedly stopped responding. Police suspect that Trivedi inserted the names of the two Mumbai firms in the RTGS documents instead of the intended beneficiary. An investigation is underway to trace the money trail and determine the involvement of the recipient companies.