Mumbai: In two separate incidents, a four-member gang allegedly misappropriated gold jewellery worth nearly ₹1.75 crore, cheating two jewellers in the Masjid Bunder and Girgaum areas. The VP Road and Pydhonie police have registered two separate cases of criminal breach of trust and cheating against the accused and launched investigations.
Police have identified the accused as Raju Bablu Dalbera, Chandu Krishna Rai, Mohit Raghavendra Verma, and Ramesh Shantilal alias Shankara Ram.
About The First Case
In the first case, complainant Akash Ashok Surana, a jeweller residing in the Fort area, runs a gold jewellery shop named Siyara Jewels in the Kalbadevi–Zaveri Bazaar belt. Jewellers from Mumbai and other cities regularly purchase gold ornaments from his shop. In December, Mohit Verma visited the shop, developed an acquaintance with Surana, and purchased gold jewellery worth ₹13 lakh. On December 17, Verma returned and placed an order for gold bracelets weighing 1,517 grams. To gain Surana’s trust, he deposited ₹30 lakh in cash as a security deposit.
Verma assured Surana that the remaining amount of approximately ₹1.5 crore would be paid after delivery. As Verma had earlier transactions with the shop, Surana trusted him and sent two employees to deliver the bracelets to the address provided by Verma in Girgaum. Upon reaching the location, Verma was not present. Instead, his associate Ramesh Shantilal and another youth told the employees that some jewellers from Indore were inside and that they would show them the bracelets. They took the jewellery inside and fled with the gold bracelets weighing around 1.5 kg, worth nearly ₹1.5 crore.
Later, when contacted, Verma called Surana to Girgaum, assured payment, and advised him not to approach the police. He then absconded. As the promised payment was never made, Surana lodged a complaint with the VP Road police. After verification, police registered a case against Mohit Verma and Ramesh Shantilal for misappropriation and cheating. Investigations are underway, and police are scanning CCTV footage to trace the absconding accused.
About The Second Case
In the second incident, the Pydhonie police have registered a case against Raju Bablu Dalbera and Chandu Krishna Rai. The complainant, Subroto Bhutnath Pal, is a gold artisan residing in the Diva area and operates a jewellery manufacturing unit in the Masjid Bunder locality. Dalbera and Rai were employed as artisans at the factory.
In November 2025, Pal handed over 212 grams of gold to the two accused for making jewellery. However, instead of manufacturing the ornaments, they allegedly fled with the gold. Upon discovering the fraud, Pal lodged a complaint with the Pydhonie police. Following preliminary inquiry, police registered a case of criminal breach of trust and cheating against both accused and initiated further investigation. Police said efforts are on to trace and arrest all the accused involved in the two cases.
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