Vivek Oberoi Diamond Fraud Case: ₹34.75 Crore EOW Probe Explained

Mumbai, January 2026 — Bollywood actor Vivek Oberoi, known for his film career and luxury lifestyle, is now at the center of a major financial controversy after his name surfaced in a ₹34.75 crore diamond fraud case under investigation by the Mumbai Police Economic Offences Wing (EOW).

What Is the ₹34.75 Crore Diamond Fraud Case?

The EOW has initiated a preliminary inquiry into an alleged diamond fraud involving Cupid Diamonds Pvt Ltd, where investors claim they were cheated of roughly ₹34.75 crore. The complaint alleges a scheme involving fraud, forged documents, and bounced cheques connected to high-value diamond transactions.

Among the accused in the case are:

• Vivek Oberoi – Bollywood actor
• Satish Daryanani – Business associate
• Ricky Vasandani – Business associate

The complaint was filed by the director of Cupid Diamonds Pvt Ltd, who claims improper conduct in diamond deals that took place over several years. The EOW is now examining bank transactions, documents, and other financial records as part of the probe.

Allegations: Fraud, Fake Docs & Bounced Cheques

According to police sources and filings:

• The accused allegedly used fake company seals, forged signatures, and counterfeit documentation to give the impression that diamonds and payments were legitimate.
• Reports indicate that in some instances low-value stones were couriered back instead of actual diamonds, supposedly to fake returns.
• Post-dated cheques issued as payment were later dishonored, resulting in bounced cheque complaints.
• There are claims that conspirators tried to build trust by fulfilling small transactions initially before larger amounts were involved.

The investigation is still in the primary stage, and EOW officials are meticulously verifying all paperwork and transactions to assess the validity of the claims and whether criminal charges should be formalized.

Industry and Public Reaction

This development has sent shockwaves through Bollywood and the business community because Oberoi’s association with high-end properties and luxury assets — including his reported ₹14 crore Juhu bungalow and a multi-crore Rolls-Royce — has made headlines even before this controversy. (Context on lifestyle assets pulled from earlier coverage summarizing his luxury profile.)

Legal experts note that even though the current stage is an inquiry (not an FIR under full charge sheet), inclusion in a high-profile fraud investigation could have reputational implications for a widely recognized urban celebrity. The EOW’s next steps will likely determine whether arrests, charges, or further notices follow.

What Happens Next in the Vivek Oberoi Diamond Case?

As of now:

• The EOW is continuing its detailed probe.
• Authorities have not yet publicly disclosed formal charges against Oberoi or others beyond naming them during the inquiry.
• If evidence substantiates the allegations, the matter could escalate into a full FIR and possible legal action under Indian criminal and economic offence laws.

The outcome of the investigation will be closely watched, as this case intersects entertainment, high-value luxury asset transactions, and significant financial allegations involving one of Bollywood’s prominent names.

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Frequently Asked Questions (FAQ)

Below are some commonly asked questions related to the ₹34.75 crore diamond fraud case in which Bollywood actor Vivek Oberoi’s name has been mentioned during an ongoing investigation.

Why is Vivek Oberoi linked to the ₹34.75 crore diamond fraud case?
Vivek Oberoi’s name has surfaced in connection with a ₹34.75 crore diamond fraud case that is currently under examination by the Mumbai Police Economic Offences Wing (EOW). Authorities are reviewing documents and financial transactions as part of the inquiry.

Is Vivek Oberoi accused or arrested in the diamond fraud case?
As of now, Vivek Oberoi has not been arrested or formally charged. His name has been mentioned during the investigation, and the case remains under inquiry.

What is the ₹34.75 crore diamond fraud case about?
The case involves alleged irregularities in high-value diamond transactions. Investigators are examining financial records, transaction trails, and business dealings linked to the matter.

Which agency is investigating the case?
The investigation is being conducted by the Mumbai Police Economic Offences Wing (EOW), which specializes in handling major economic and financial offences.

What happens next in the investigation?
The next steps will depend on the findings of the Mumbai EOW. After reviewing all evidence, authorities will decide whether further legal action is required.

Is the investigation still ongoing?
Yes, the investigation is ongoing, and officials have indicated that further developments may emerge as the probe progresses.