Court Allows Mehta Family to Spend $30,000 a Week
June 28, 23
(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.