A major case of gold fraud has been registered at the Lokmanya Tilak Marg Police Station in Mumbai, where a goldsmith allegedly cheated a businessman of over ₹2.66 crore worth of entrusted gold.
The complainant, Abhishek Ashokkumar Jain (39), a jeweller residing on Sion Trombay Road in Chembur, stated that he had handed over 2,510.900 grams of 24-carat gold to an artisan named Manas Mohan Mandal between April 23 and May 30, 2025. Mandal operated from an office named MM Jewels located on Old Satta Galli, Sheikh Menon Road.
Jain further claimed that by March 2025, an additional 178.100 grams of gold—comprising remnants such as gold wire, powder, hooks, and beads from earlier assignments—were also with Mandal. This brought the total quantity of gold in Mandal's possession to 2,689 grams, valued at ₹2.66 crore.
Instead of returning the finished jewellery or the gold, Mandal allegedly misappropriated the entire quantity and went missing. Feeling betrayed, Jain approached the Lokmanya Tilak Marg Police Station and lodged a formal complaint.
A case has been registered and a search is underway to trace the accused, who is currently absconding. Police are investigating whether Mandal sold or diverted the gold, and are also probing the possible involvement of accomplices.
