Surat: The sensational case of a ₹32 crore diamond theft from DK & Sons Diamond Company in Surat’s Kapodra area has turned out to be a meticulously planned insurance fraud. As per agency report, police investigations have revealed that the company's owner, Devendra Kumar Chaudhary, orchestrated the fake robbery in a desperate attempt to recover from financial debts by claiming insurance.
Initially, Chaudhary had filed a complaint alleging that thieves had broken into his company on the night of August 17 and used gas cutters to break open the vault, stealing diamonds worth ₹32 crore along with ₹5 lakh in cash. However, police grew suspicious early on, as no locks or doors had been forced open. Moreover, the company’s insurance policy had been conveniently renewed just ten days before the alleged heist.
Further investigations uncovered that Chaudhary had conspired with his two sons, Piyush and Ishan, as well as their driver, to fabricate the theft. CCTV footage showed one son riding in a rickshaw during the supposed time of the burglary, while the other was present at the company premises immediately afterward. It was also discovered that five individuals had been hired to stage the robbery, with ₹5 lakh paid to them in advance and the remaining ₹5 lakh promised later.
When the vault was opened by employees of the safe manufacturing company, it still contained ₹19 lakh worth of small-cut diamonds. This finding clearly indicated that no actual theft had taken place, and only the high-value stones were claimed to have been stolen to make the fraud appear real. The entire operation was aimed at securing an insurance payout of ₹32.6 crore.
Devendra Kumar Chaudhary, a resident of Surat for the past 35 years and engaged in the diamond business for two decades, is known in the industry as “DK Marwadi.” His company reportedly has an annual turnover of around ₹300 crore, with operations extending to Mumbai and abroad. Despite his established reputation, the revelation of such a serious fraud has sent shockwaves through the diamond industry in Surat.
The Kapodra police and the city crime branch have successfully unearthed and cracked what is being described as one of the most elaborate frauds in recent times, marking a significant step in curbing white-collar crimes in the industry.
