The LT Marg police have filed a case of fraud and embezzlement against two persons, including a jeweller from Hyderabad and a supplier, for duping a Borivali-based jeweller out of gold worth Rs 1.60 crore.
The accused, Suresh Vaishnav and Ramlal Gurjar are currently on the run, and police have launched an operation to arrest them. Authorities are also investigating if the duo has targeted other jewellers with similar frauds.
Ajay Dharamji Vaya, a jeweller from Borivali, runs Krisha Art, a jewellery-making business. He sources gold from supplier Suresh Vaishnav, and in October last year, Suresh introduced Vaya to Gurjar, who allegedly offered good deals on gold transactions. Vaya continued doing business with Ramlal after a successful initial transaction.
On October 21, Vaya sent Ramlal gold mangalsutras weighing 1.8kg, expecting gold bars in return. Ramlal initially sent real gold bars, building trust. However, on December 25, Vaya sent more jewellery worth Rs1.60 crore (2,045 grams) to Ramlal through Vaishnav. At the hotel exchange, Vaishnav gave two gold bars, but they turned out to be fake.
Vaya, realising the fraud, tried contacting Vaishnav and Ramlal, but their phones were off, and they didn’t show up. Vaya immediately reported the incident to the police, who have registered the case and are searching for them.
