Mumbai: Man Held For ₹31.58 Lakh Jewellery Fraud Using Fake Chandukaka Saraf Identity

Mumbai: Two Mumbai-based gold jewellery manufacturing companies were cheated of Rs.31 lakh in the name of the well-known Chandukaka Saraf shop in Pune. In connection with the case, the MIDC police arrested an accused identified as Kartik Shah, 33. Shah had obtained the GST certificate of Chandukaka Saraf and misused it to commit the fraud.

Borivali Man with Jewellery Trade Links Behind Fraud

According to the MIDC police, the accused, Kartik Shah, resides in Borivali West. He had worked in a goldsmith’s shop for a few years, and several of his relatives are also in the same business. Therefore, he had knowledge of the trade and was familiar with its intricacies. Using this knowledge, he devised a fraudulent plan.

On 8 August, Shah visited the renowned jewellery store ‘Chandukaka Saraf’ in Pune, claiming to be an officer from the International Gemological Institute. On the pretext of updating the store’s Goods and Services Tax (GST) certificate, he requested a copy of the document. Owing to his convincing body language, no one suspected him, and the manager handed over a copy of the GST certificate.

After obtaining the certificate, Shah executed the next phase of his plan. On 9 August, he contacted two jewellery manufacturers in Mumbai—‘Money Jewels Expert with Better Diamond’ and ‘Calista Jewellers’. Posing as a representative of Chandukaka Saraf, he claimed that two new showrooms were opening and jewellery was required for display there. To gain the trust of the companies, he sent them a copy of the GST certificate, as a result of which they believed him. He instructed the companies to send the jewellery through parcel porters, giving different addresses in Mumbai and Pune. However, before the porters could reach the showroom address, Shah intercepted them on the road in Bandra and took the parcel. He obtained a parcel near Chetna college in Bandra West and another at Khadaki in Pune.

Inside the Conspiracy

In this way, Shah looted gold and diamond jewellery worth Rs.31.58 lakh from both companies. The fraud came to light when it was realised that the jewellery never reached Chandukaka Saraf Company. A case was registered in this regard at the MIDC police station, where the police later investigated and arrested Kartik Shah in Mumbai.

The mobile number used by the accused was traced, and based on information provided by the porter company, Shah was located and arrested. The further investigation is underway to determine how many more companies the accused may have cheated. Under the guidance of senior police inspector Ravindra Wani, detection officer Yash Palve executed the operation.