Mumbai Crime: Kalbadevi Jewellers Booked For Cheating Businessman Of Gold Worth ₹38 Lakh

Mumbai: In yet another gold fraud incident, the LT Marg Police have registered a case against two jewellers from Kalbadevi for allegedly cheating a businessman of gold worth ₹38 lakh.

Accused Promised To Manufacture Ornaments

According to police, the complainant, Ashwin Jayantilal Jain (39), a gold trader residing at Gundecha Garden, Lalbaug, filed a complaint stating that the accused identified as Amit Dakan (50) and Ketan Dakan (55), owners of Shreeraj Gold took delivery of 300 grams of pure gold and 26 grams of alloy, collectively worth ₹38,00,000, on October 7, 2025, with a promise to manufacture gold earrings and ornaments.

Jewellers Fail To Return Gold Or Jewellery

However, despite receiving the gold, the accused allegedly failed to return the finished jewellery or the raw gold. When the complainant demanded the items, the duo allegedly evaded him, following which Jain realised he had been duped.

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Case Registered, Probe Underway

Based on his complaint, the LT Marg police have registered a case under relevant sections for cheating and criminal breach of trust. The investigation is underway to trace the accused and recover the stolen gold.

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