Ahmedabad jewellery fraud: Four held for ₹4.45 crore scam targeting jewellers
Synopsis
Four people — including a husband, wife, and son — have been arrested in Ahmedabad for allegedly posing as high-volume property and gold brokers to defraud four jewellers of ₹4.45 crore worth of gold and diamond jewellery. The primary accused is reportedly linked to around 11 similar cases across Gujarat, and a fifth suspect remains at large.
Key Takeaways
The Ahmedabad Crime Branch EOW arrested four people for allegedly defrauding jewellers of gold and diamond jewellery worth ₹4,45,45,553 .
The accused — Anil Vibhani , Nimmi Vibhani , Vedant Vibhani , and Shivam Gadhvi — allegedly posed as large-scale brokers in land, property, and gold.
The alleged fraud targeted four jewellers across multiple periods, with the largest single amount of ₹2,05,99,203 taken from S.R.
Anil Vibhani is allegedly linked to around 11 cases across various districts and cities in Gujarat .
A fifth accused, Rajvi Vibhani , remains at large; the EOW is investigating bank transactions, lockers, and properties.
The Ahmedabad Crime Branch's Economic Offences Wing (EOW) has arrested four people for allegedly defrauding multiple jewellers of gold and diamond jewellery worth ₹4,45,45,553 by posing as high-volume brokers in land, property, and gold transactions, and subsequently defaulting on payments. The arrests were made in connection with a case registered at the DCB Police Station under Sections 316(5) and 61(2) of the Bharatiya Nyaya Sanhita.
How the Alleged Fraud Unfolded
According to the complaint filed by Abhishek Zaveri, the accused allegedly operated as a coordinated group, presenting themselves as established brokers and agents handling large-scale transactions in land, houses, and gold. Police allege they leveraged this false credibility to procure jewellery from multiple showrooms across Ahmedabad over different periods, before failing to settle any dues.
The alleged scheme targeted four jewellers in a pattern investigators describe as a pre-planned conspiracy. Gold and diamond jewellery worth ₹1,69,17,650 was allegedly taken from Abhishek Zaveri's showroom in February 2025. Jewellery valued at ₹26.33 lakh was allegedly procured from Harubhai Zaveri in May 2023, while Zaveri & Company was allegedly defrauded of jewellery worth ₹43,95,700 between October and December 2024.
The largest single tranche — worth ₹2,05,99,203 — was allegedly taken from S.R. Golden Jewellers between May and June 2023. None of the jewellery has reportedly been paid for or returned, according to the complaint.
The Accused: A Family and an Associate
The four arrested individuals have been identified as Anil Vibhani, 50; his wife Nimmi Vibhani, 44; their son Vedant Vibhani, 23; and Shivam Gadhvi, 25. The three Vibhani family members are residents of Thaltej, Ahmedabad, while Gadhvi hails from Mundra in Kutch. All four were arrested and subsequently remanded in custody.
A fifth accused, Rajvi Vibhani, remains at large, according to the EOW, which confirmed that efforts are underway to secure the arrest.
Wider Pattern of Alleged Offences
Investigators found that Anil Vibhani is allegedly linked to approximately 11 cases registered across different districts and cities in Gujarat, suggesting the alleged fraud may extend well beyond the current complaint. This is not an isolated incident — the scale and multi-city footprint point to a sustained pattern of alleged financial deception targeting the jewellery trade.
The EOW is currently examining the accused's bank transactions, bank lockers, and properties. Further investigation into the case property, financial trails, and the role of the remaining accused is ongoing.
What Happens Next
With Rajvi Vibhani still to be apprehended and the financial probe expanding, the EOW is expected to widen its examination of the accused's assets and transaction records. The case could potentially uncover further victims and additional registered complaints across Gujarat, given the alleged history of similar offences attributed to the primary accused.
Point of View
But its scale — ₹4.45 crore across four victims and a five-year window — raises a harder question: why did multiple established jewellers extend credit to the same network without due diligence? The alleged 11-case history of the primary accused across Gujarat suggests either a failure of informal trade intelligence-sharing or a deliberate exploitation of the trust-based credit culture that underpins India's jewellery sector. The EOW's asset probe will be the real test of how deep the financial trail runs — and whether recovery is even possible for the defrauded businesses.
NationPress
20 Aug 2026
Frequently Asked Questions
What is the Ahmedabad jewellery fraud case?
The Ahmedabad Crime Branch's Economic Offences Wing arrested four people for allegedly defrauding four jewellers of gold and diamond jewellery worth ₹4,45,45,553 by posing as brokers in land, property, and gold transactions. The accused allegedly procured the jewellery across multiple periods and failed to make any payment or return the goods.
Who are the accused in the Ahmedabad jewellery fraud?
The four arrested accused are Anil Vibhani (50), his wife Nimmi Vibhani (44), their son Vedant Vibhani (23), and Shivam Gadhvi (25). A fifth accused, Rajvi Vibhani, remains at large and is being sought by the EOW.
Which jewellers were allegedly defrauded and by how much?
Four jewellers were allegedly targeted: Abhishek Zaveri's showroom (₹1,69,17,650 in February 2025), Harubhai Zaveri (₹26.33 lakh in May 2023), Zaveri & Company (₹43,95,700 between October–December 2024), and S.R. Golden Jewellers (₹2,05,99,203 between May–June 2023).
Is Anil Vibhani linked to other fraud cases?
According to investigators, Anil Vibhani is allegedly involved in around 11 cases registered across different districts and cities in Gujarat, suggesting a wider pattern of alleged financial offences beyond the current complaint.
What is the current status of the investigation?
The EOW has remanded all four arrested accused in custody and is examining their bank transactions, bank lockers, and properties. Investigators are also pursuing Rajvi Vibhani, who remains at large, and probing the full financial trail of the alleged fraud.
