Mumbai Crime: BKC Police Bust Gang Duping Jewellers With Fake 24-Carat Gold Bars; 3 Arrested

Mumbai: In a major crackdown, the BKC Police have busted a gang that was luring jewellers by falsely offering 24-carat gold in exchange for 22-carat ornaments, only to con them out of valuable jewellery. Three individuals have been arrested in the case, identified as Rakesh Lilani, Mohd Hanif Abdullah Shama, and Vikrant Rangraj Parekh.

According to police officials, the accused approached jewellers with offers to exchange 22-carat gold ornaments for high-purity 24-carat gold biscuits and bars. They would instruct the jeweller to manufacture specific jewellery pieces and deliver them in person, promising to hand over the gold bars at the time of delivery.

However, the so-called 24-carat bars were either fake or of significantly lower purity. Once the genuine ornaments were handed over, the accused would flee, leaving the victim with worthless metal.

During interrogation, the BKC Police linked the trio to at least three similar fraud cases within their own jurisdiction, and another reported at VP Road Police Station. Investigations revealed that all three accused previously worked as brokers for diamond traders, which gave them access to the jewellery business and helped them gain the trust of their victims.

Police are continuing their investigation to determine if more jewellers have been targeted by this gang. Further arrests are likely as the probe progresses.