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Mehta In Legal Bid To Unfreeze $900m Assets

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Mehta is in a legal bid to unfreeze $900m assets. Jatin Mehta, a fugitive diamond merchant from India, has appeared in court in Britain with the intention of contesting the freezing of his assets.

This Questioned Accusation And Denial

He is accused of defrauding fifteen lenders out of a total of more than one billion dollars that was loaned to his companies Winsome Diamonds and Jewellery Ltd and Forever Precious Diamonds & Jewellery Ltd in 2013.

He is also accused of laundering the money in order to fund his lab-grown diamond business. He denies all accusations.

At the beginning of this year, it was discovered that Mehta and his family were residing in London, despite having been granted citizenship of St. Kitts and Nevis, a country that does not have an extradition arrangement with India.

COPYRIGHT_BER: Published on https://www.bernardine.com/mehta-in-legal-bid-to-unfreeze-dollar900m-assets/ by Barbara Mitchell on 2022-10-25T03:45:55.523Z

In May, the High Court in London placed a freeze on their assets, which were estimated to be worth 932 million pounds.

According to a report by Bloomberg News, attorneys for Mehta (pictured) asserted last week that the Indian unit of Standard Chartered Plc and the accountancy firm Grant Thornton had used "sleight of hand" to obtain the freezing order.

The judge has not yet rendered a decision on the case.

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About The Authors

Barbara Mitchell

Barbara Mitchell - Barbara is recognized by the industry leaders for her passion and objective to make beautiful jewellery accessible, affordable and forever wearable. She designs custom made jewelery made of gold and diamonds for more than 20 years. Her website, bernardine.com has been mentioned in many books such as "The 12 Gemstones of Revelation", "Teens Have Style!", "10-Minute Crystal Healing" and websites such as wikipedia.org, etsy.com, buzzfeed.com, yahoo.net.

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