Family wanted for fraud in India found living life of luxury in London

A CONMAN wanted in India over a $1 billion (£831 million) diamond and gold scam has been enjoying a luxurious life with his family in London, according to reports.

The high court in London heard that Jatin Mehta (far right), his wife Sonia, their sons Vishal and Suraj, as well as a business associate, Haytham Obidah, conducted a sophisticated fraud against two diamond companies, Winsome Diamonds and Forever Precious Diamonds.

According to a report in the Evening Standard, the scam involved a complex web including companies in the United Arab Emirates (UAE), Britain, Singapore and Ireland, and sham derivatives trading, gold dealing and loan defaults.

When Indian authorities started investigating the fraud, Mehta and his family renounced their Indian citizenship and obtained passports from St Kitts and Nevis – which has no extradition treaty with India – before vanishing.

But liquidators found they were living in three houses in London – in St John’s Wood, Maida Vale and Hampstead Garden Suburb.

Ian Wilson QC, representing the jewellery companies, called for Mehta and his family to give a full account of where the money had gone. The family explained that hundreds of millions of dollars had been lost through “catastrophic foreign exchange and commodities derivatives” trading by companies in the UAE.

However, that claim was proved to be false later.

Lawyers for Mehta and his family are contesting the claims.

Criminal proceedings have begun in India against Jatin, Sonia and Suraj Mehta, a report said. It is not clear where the family are currently living.