Gold businessman duped of Rs 3.61 crore

A 49-year-old jeweller from Zaveri Market, Kapil Parekh, was allegedly cheated to the tune of Rs 3,61,50,000. 

According to LT Marg police, Parekh had given gold ornaments weighing 13641 grams to three people for selling them in exchange for money in 2016. The three accused fled with the ornaments 

“The complainant had given the ornaments to the accused persons for selling it and returning back the money. After two years, the accused failed to give the money or the jewels. The complainant repeatedly demanded the money back but the accused persons kept on dillydalling the matter.”, said the LT Marg police officer.

Sharad Naik, Senior Inspector, LT Marg police station, said, “We have registered a case under sections 409 (breach of trust by agent) ,420 (cheating) and 34(common intent) of the Indian Penal Code. The three accused have been remanded into police custody.”