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.

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