Mumbai News: Gold Fraud Case Worth ₹70 Lakh Unearthed, Trader Duped By Fictitious Jewelry Company

Mumbai News: Gold Fraud Case Worth ₹70 Lakh Unearthed, Trader Duped By Fictitious Jewelry Company

According to Roy, his involvement with Vinu commenced in May when the latter presented himself as the proprietor of an enterprise called MDH Jewels Private Limited.

Vishal SinghUpdated: Tuesday, August 15, 2023, 07:00 PM IST
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Representational image | File Photo

A case of gold fraud amounting to Rs 70 lakh has been registered at the Lokmanya Tilak (LT) Marg police station in Mumbai. The complainant, Sumit Roy, who operates as a gold jewelry trader, has reported falling victim to a fraudulent scheme orchestrated by an individual named Satyanarayan R. Dixit, also known as Vinu D, hailing from Visakhapatnam in Andhra Pradesh.

According to Roy, his involvement with Vinu commenced in May when the latter presented himself as the proprietor of an enterprise called MDH Jewels Private Limited. Vinu purportedly expressed an interest in purchasing jewelry from Roy, citing the opening of a novel showroom in Visakhapatnam.

In the initial transactions, Vinu requested and acquired jewelry worth Rs 7.80 lakh and Rs 20 lakh from Roy, clearing the payments via Real Time Gross Settlement (RTGS). Subsequently, a further order was placed for jewelry valued at Rs 42 lakh, for which Vinu tendered three checks to Roy. Regrettably, these checks were dishonored upon deposit into the bank.

Upon attempting to communicate with Vinu, Roy encountered an abrupt cessation of response and eventually discovered that Vinu's mobile phone had been powered off. It was at this point that Roy realized he had fallen victim to a deceitful ploy and subsequently filed an official complaint with the local authorities.

The police have taken cognizance of the matter and have formally registered a First Information Report (FIR) against Vinu and any potential accomplices. An active investigation is currently underway to unveil the details and uncover any additional individuals involved in the fraudulent activities.

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