Delhi businessman duped of Rs 30 lakh in fake ‘excavated gold’ scam

Delhi: A 59-year-old man has been arrested for allegedly defrauding a local businessman of Rs 30 lakh by selling counterfeit “excavated gold,” an officer reported on Monday. The scam was so well-planned that an initial gold purity test even appeared to validate the deception.

The accused, identified as Mohan Rai from Uttam Nagar, was apprehended while his two accomplices remain at large. Authorities have recovered Rs 1.70 lakh from his possession, the officer added.

The case dates back to November 20 last year when Gaurav Soni, a businessman from Paschim Vihar, was introduced to a group claiming to have unearthed gold during a home excavation in Mathura. The introduction was facilitated by Ramesh Sharma, a hardware shop owner. Among the fraudsters were a woman known as “mother” and two men posing as her husband and son.

To build credibility, the group first provided Soni with two small gold pearls, which tested 78% pure. Gaining his trust, they later offered a necklace set weighing approximately 2 kg and negotiated a deal for Rs 80 lakh.

Convinced of its authenticity, Soni initially paid Rs 30 lakh, with the rest to be handed over after further verification. However, upon closer inspection, he discovered the gold was fake. Attempts to contact the sellers proved futile as their phones had been switched off.

Following a complaint, an FIR was registered at Palam Village Police Station on December 25, leading to an extensive investigation. By analysing over 100 mobile numbers and IMEI records, the police tracked down and arrested Mohan Rai on March 3.

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During interrogation, Rai admitted to executing the scheme along with his accomplices, Babu Lal and Lakshmi, who provided the counterfeit gold. He also revealed that he had personally received Rs 9.5 lakh from the fraudulent deal.

Authorities are continuing efforts to apprehend the remaining suspects.

(With inputs from PTI)