Mumbai Fraud: 30-Year-Old Mandvi Businessman Duped Of ₹46.53 Lakh Worth Gold In Jewellery Partnership Scam; Accused Absconding

Mumbai: A businessman from Mandvi has lodged a complaint with LT Marg Police alleging he was cheated out of pure gold worth Rs 46.53 lakh by a known associate under the pretext of a jewellery-making partnership.

According to the FIR, complainant Shyam Govind Das (30), residing at Abdul Rehman Street, Mandvi, handed over a total of 470 grams of 24-carat pure gold to the accused, identified as Jahujuddin Mondal (28), a resident of Fofalwadi, Bhuleshwar.

The complainant stated that on an earlier occasion, he had entrusted 220 grams of gold worth Rs 21.78 lakh to Mondal for crafting pendants for mangalsutras at Chakupada. Subsequently, on March 10, 2025, both parties entered into a partnership deed for a new jewellery-making venture, during which an additional 250 grams of pure gold worth Rs 24.75 lakh was handed over.

However, Mondal allegedly misused the total 470 grams of gold entrusted to him and did not return the jewellery or provide any returns. Police suspect he may have sold or otherwise diverted the gold for personal financial gain.

Based on Das’s complaint, a case of criminal breach of trust and cheating has been registered at LT Marg Police Station. The accused Mondal is currently absconding, and further investigation is underway.