A Bengaluru car dealer was allegedly duped of Rs 25 lakh after fraudsters convinced him to buy what they claimed was 1.5 kg of gold discovered during borewell drilling. Police have arrested one accused and recovered Rs 19.93 lakh in cash, while efforts are underway to trace the remaining suspects.
According to police, the victim, a resident of Vijayanagar, lodged a complaint at the Tilaknagar Police Station on May 22.
Fake gold deal planned with genuine sample
Police said two acquaintances approached the complainant, claiming they had unearthed around 1.5 kg of gold while drilling a borewell on agricultural land in Harapanahalli. They allegedly offered to sell the gold at a price lower than the prevailing market rate.
To gain the victim’s confidence, the accused first sent photographs of gold-like bars through WhatsApp before meeting him at a hotel in Tilaknagar. There, they produced a 2-gram gold sample, which was tested and found to be genuine.
Believing the offer to be authentic, the complainant initially paid Rs 2 lakh in cash and later handed over the remaining Rs 23 lakh. In exchange, he received approximately 1.5 kg of gold-like bars.
However, when the bars were examined at a jewellery shop, they were found to be fake.
Police recover nearly Rs 20 lakh
Following the complaint, Tilaknagar Police registered a case of cheating and launched an investigation. Acting on a tip-off, officers arrested one of the accused near a dhaba on National Highway 48 in Chitradurga on June 17.
Police recovered Rs 19.93 lakh in cash from the accused, who allegedly confessed to his role during interrogation.
The accused was produced before a court on June 18 and remanded to judicial custody. Police said efforts are continuing to trace the remaining accused and recover the remaining money as the investigation progresses.