Indian-American diamond merchants held for robbery charge

By siliconindia   |   Tuesday, 01 March 2011, 09:31 IST
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New York: Two Indian American diamond merchants are arrested for staging a robbery out of the movie "Snatch" in which two robbers disguised as Hasidic Jews robbed $10 million worth of jewels, as report by the New York Post. The names of the two Indian-Americans are Atul Shah and Mahaveer Kankariya. Both Shah and Kankariya are the owners of Dialite Imports on West 46th Street. They were more than a million dollars in debt and in order to collect a big insurance policy with Lloyd's of London, they made up the fraud. The jewels for $9.2 million insured by the two men have not been recovered till yet. Both Shah and Kankariya, ordered held on $750,000 bail, are charged with grand larceny, insurance fraud.