India, May 4 -- The Economic Offences Wing (EOW) of the Mumbai police has arrested three individuals for allegedly defrauding a diamond manufacturer and exporter of Rs.22.75 crore under the pretext of supplying gems to international clients.

According to the EOW, the accused-Sameer Sanghani, 53, Himanshu Shah, 48, and Ashish Mane, 35-posed as diamond brokers and operated under the name 'Riddhesh Diamonds' from a store on Linking Road, Bandra West. They lured the complainant, veteran diamond trader Shreyas Zaveri, 67, into supplying high-value diamonds on credit terms, promising payment within 60 to 90 days.

Zaveri, a Malabar Hill resident who co-runs 'A Rajeev and Company' with his wife from the Bharat Diamond Bourse in BKC, had met San...