Gold Scam Unraveled: Bangalore Man Arrested in Jewelry Heist

Bangalore police have apprehended a man accused of defrauding a jewelry shop owner in Jayanagar, recovering gold ornaments and cash valued at Rs 2.5 crore. The arrest follows a complaint filed on June 13, prompting an investigation that led to the recovery of 3.16 kg of gold ornaments and Rs 8.53 lakh in cash. The shop owner had trusted the accused with 8 kg 351 grams of gold bars for crafting purposes over a period of 40 days, but reportedly, the man disappeared with the gold, failing to deliver the completed ornaments.

Bangalore Police Commissioner Seemanth Kumar Singh, during a press conference, explained that the accused had been entrusted with gold to create ornaments but instead vanished with the valuables. The jewelry shop owner raised a complaint after attempts to contact the accused were unsuccessful. Upon arrest, police found that while a fraction of the gold was stored at the accused's residence, a significant portion had been sold.

The police are further investigating the incident to determine if the suspect has engaged in similar fraudulent activities previously. The swift action by the authorities has ensured the recovery of a substantial amount of the defrauded assets, providing some relief to the victimized jewelry owner.

(With inputs from agencies.)