Belgium’s Indian Diamond Companies Face Suspicion

The Times of India reported that the Antwerp police have revealed that Prashant Bhalani, the Belgian sales manager of Kiran Gems Private Ltd., was involved in an October 2012 diamond robbery. As a result, other Indian diamond companies in Belgium have fallen under suspicion.

As quoted in the market news:

Three men entered Bhalani’s house and took him and his wife hostage at gunpoint. One of the thieves held Prashant’s wife at home, while the others fitted her husband, sales manager of Kiran Gems, with a camera that enabled the mobsters to monitor his whereabouts.

The robbers then sent Prashant to steal the roughs in his company’s vaults. Once the goods were delivered to the hostage takers, his wife was reportedly released, physically unharmed.

Click here to read the full report from The Times of India.