Court Allows Mehta Family to Spend $30,000 a Week

By John Jeffay / June 28, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Fugitive Indian diamond merchant Jatin Mehta and his family are allowed to spend over $30,000 a week on living expenses, despite a worldwide freezing order (WFO) on their $932m assets.Details of the spending limits set by the British court are revealed in an investigation by the Indian news and economy website Moneycontrol. It says a court order in March of this year, allows Jatin Mehta - accused of a $1bn fraud - and wife Sonia Mehta to spend $64,000 ( ?50,000) and their son Suraj Mehta, to spend $32,000 ( ?25,000) per rolling five-week period. Their other son Vishal Mehta can spend $55,000 ( ?43,333) per calendar month. All told, that's more than $30,000 a week for a family of four, not including legal expenses.In February Jatin Mehta (pictured) failed in a legal bid to have the WFO lifted.He is accused of defrauding15 lenders out of the $1bn lent to his companies Winsome Diamonds and Jewellery Ltd and Forever Precious Diamonds & Jewellery Ltd in 2013.He is also alleged to have then laundered the money through a series of shell companies to fund his lab grown diamond business. He denies all accusations.

Recent News

Mixed outlook for gold as it remains range bound for past three months

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on flat metal price

June 30, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline

June 23, 2025 / www.canadianminingreport.com

Huge quantifiable rise in geopolitical, economic and trade risks

June 23, 2025 / www.canadianminingreport.com

Platinum clearly ahead of palladium for first time in seven years

June 16, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok