Mumbai: Goldsmith Absconds With ₹1.30 Crore Worth Of Gold In Zaveri Bazaar; Police Launch Search

A shocking case of embezzlement has come to light in the Zaveri Bazaar area, where a goldsmith absconded with 1,497 grams of pure gold worth ₹1.30 crore, which was given to him for crafting gold mangalsutras. The L.T. Marg Police have registered a case of fraud and embezzlement against the accused, identified as Mir Arif Gulam, and have launched a special operation to track him down.

Kedar Krishna Mamade, a wholesale jeweler residing in Kalachowki, owns a jewelry shop named Kanak Sparsh Jewels in First Agiary Lane, D.D. Jewelers Building, Zaveri Bazaar. Mir Arif Gulam, a trusted goldsmith known to Mamade, was regularly given gold to craft jewelry.

Between January 8 and January 30, 2025, Mamade handed over 1,497 grams of pure gold, valued at ₹1.30 crore, to Mir for crafting mangalsutras. The goldsmith assured that the jewelry would be ready within 10 to 15 days.

However, as the deadline passed, Mir failed to deliver the jewelry. When Mamade attempted to contact him, Mir's phone was found switched off. Realizing he had fled with the gold, Mamade reported the matter to the L.T. Marg Police Station.

After verifying the complaint, the police registered a case against Mir under charges of fraud and criminal breach of trust. Investigators suspect that he may have fled to his hometown, and a special police team has been assigned to locate and arrest him.