​In a startling case unfolding in Mumbai, authorities have uncovered a complex conspiracy involving an accountant’s attempt to eliminate his employer, a jeweller, to conceal a significant financial fraud.

The accused, Ketan Parikh, who served as the chartered accountant for jeweller Kiranraj Shah, is alleged to have embezzled approximately ₹4 crore from Shah’s business. To divert attention from his fraudulent activities, Parikh reportedly orchestrated a scheme to frame Shah by planting an illegal pistol and nine cartridges in Shah’s Chira Bazaar shop. This plan was executed with the assistance of Niranjan Gupta, a police informant, and was allegedly commissioned by Jitendra Jain, who is currently absconding. ​The Times of India+3

Further investigations revealed that Parikh and Gupta had previously attempted to murder Shah by staging a motorcycle accident outside his office on November 11, 2024. Shah sustained minor injuries in the incident. The motorcyclist involved, identified as Prashant Kavitia, has since been arrested.

The motive behind these actions appears to be a property dispute, with Jain allegedly enlisting Parikh to eliminate Shah. Parikh is also accused of diverting the embezzled funds into personal accounts and investing in illegal trading activities. Authorities have recovered 360 grams of gold purchased with the stolen money.

The case has prompted the Bombay High Court to order police protection for a whistleblower involved in a separate multi-crore jewellery fraud case, highlighting concerns over the safety of individuals exposing financial crimes.

As investigations continue, police are pursuing additional suspects involved in the conspiracy. The case underscores the intricate links between financial fraud and attempts to obstruct justice through violent means.​

Sources