Jeweller cheated by traders in Assam

Jeweller cheated by traders in Assam

Jeweller cheated by traders in Assam

Ahmedabad: A jeweller from Isanpur was allegedly cheated of gold jewellery worth Rs 2.2 crore after four traders from Assam collected 1.62kg of 22-carat ornaments and handed him nine gold bars that allegedly turned out to be fake. On April 5, the four allegedly placed an order for 22-carat gold jewellery consignment — sets, chains, rings, earrings and bracelets — weighing 1,624 grams and valued at around Rs 2.2 crore. He supplied 808.7 grams of jewellery worth Rs 1 crore and the other jeweller supplied 815.2 grams valued at around Rs 1.2 crore. On April 23, the four traders collected the consignment and then told the jeweller that they were short of funds. They offered him nine 24-carat gold bars weighing a total of 1,494 grams against the payment.

The jeweller said he could not finance the entire order alone and therefore partnered with another jeweller. Therefore, he went to Guwahati with 400 grams of jewellery, while his employee travelled by train with the remaining stock. The jeweller, who has been running a gold jewellery manufacturing and trading business in Ratanpol for around two decades, was introduced to the four traders in Feb, according to the complaint.

The traders claimed the bars were genuine, and said the invoices for the purchase would be couriered later. The traders, who have jewellery shops in Guwahati, first placed small orders with him and made prompt cash payments, leading him to trust them. In March, the jeweller visited the shops in Guwahati to assess their business. The Guwahati traders allegedly asked the Isanpur jeweller to deliver the consignment in person, assuring him that they would pay him soon after. Trusting them, the jeweller accepted the bars. After reaching the hotel, however, he found that the bars were made of another metal and covered in gold foil, the complaint states. When he confronted the traders, one of them promised to replace the bars.

A complaint was filed with Detection of Crime Branch (DCB) on Wednesday.

You Can Also Check: Gold Rate in Ahmedabad | Silver Rate in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Ahmedabad AQI | Weather in Ahmedabad | Petrol Price in Ahmedabad | Diesel Price in Ahmedabad | CNG Price in Ahmedabad | LPG Price in Ahmedabad Stay updated with the latest Ahmedabad news. The jeweller subsequently travelled to West Bengal after receiving repeated assurances, but the traders neither replaced the bars nor paid for the jewellery, and later switched off their mobile phones. Economic Offences Wing (EOW) of the crime branch has begun an investigation into the alleged interstate fraud. Download the TOI App.

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