The Antwerp prosecutor has started an investigation into the mysterious bankruptcy of the company that formerly stood in first place among the citys diamond dealers.
Eurostar Diamond Traders, owned by the family of 71-year-old Kaushik Mehta, was at one point the diamond citys major trader in both rough and cut diamonds. Then suddenly in 2019 the business was declared bankrupt, despite having posted recent results of 1.6 and 2.5 billion.
It turned out the company had a mountain of debt in the hundreds of millions, in particular to the banks ABN AMRO and Standard Chartered. The only assets left were some rough and cut diamonds, and the companys prestigious headquarte…
Read the full article at: https://www.brusselstimes.com/news/business/165918/diamonds-investigation-into-bankruptcy-of-former-industry-number-one/
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