Indore News: Sarafa Bazaar Jeweller Duped Of ₹40 Lakh Gold; Probe On

Indore (Madhya Pradesh): A jeweller was allegedly cheated and had gold jewellery worth ₹40 lakh stolen under the pretext of a business deal at Indore's famous Sarafa Bazaar, officials said on Sunday.

The fraud is said to have carried out a month ago, however the victim did not report the matter fearing damage of reputation.

According to reports, the victim was identified as Mukesh Agarwal, a resident of Usha Nagar. He filed a formal complaint against Shantilal Savariya, a resident of Shakkar Bazaar on Sunday.

In his complaint he stated that the incident took place on November 28 when the accused approached Agarwal’s jewellry shop and agreed to purchase half a kilogram of gold for ₹60 lakh.

The accused paid ₹20 lakh in cash on the spot and said he would pay the remaining ₹40 lakh at his own shop.

Later, the victim sent his employees with the gold to the accused's shop, which he had rented in the Sarafa area for collecting the remaining amount.

Once inside, Savariya claimed he would place the gold in the safe and bring the money. When he didn’t return, the employees checked the shop and found that he had escaped through a back exit.

Shop Rented Two Months Ago

Police investigation revealed that the accused had rented the shop about 56 days ago. Inquiries with the shop owner also revealed that the accused had been contacted through a broker.

An FIR has been registered in the matter and the police have initiated and investigation into the same.