Duo cheat businessman worth over Rs 13 Crore in Mumbai

A 40-year-old businessman was allegedly duped by two persons to the tune of Rs 13.29 crores.The accused persons took away 43 kilograms of gold ornaments on the pretext of selling it in the gold market at Hyderabad. The LT Marg Police is yet to make the arrests in the case.

According to police, Dinesh Jain, a resident of Dongri and a partner in the Mahalaxmi Jewellers firm in Zaveri Bazar, had given gold ornaments worth Rs 13,29 crores to two persons. Both accused had claimed that ornaments of Jain's shop have great demand in Hyderabad's gold market and took away the ornaments in September, 2017.

"When the complainant demanded the money or the ornaments back from the two accused, they started ignoring his calls and gave him false assurances. The businessman than approached us and registered the case," said an LT Marg police officer.

"We have registered the case under section 406 (criminal breach of trust), 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 420 (cheating) and 34 (common intent) of the Indian Penal Code," said Sharad Naik, senior inspector, LT Marg Police Station.