Malleswaram police have arrested two men accused of stealing gold jewellery by posing as prospective bulk buyers and recovered gold bullion and jewellery worth Rs 1.64 crore.
The accused have been identified as Paresh Sony, 49, a resident of Gujarat, and Praveen alias Pappu, 44, from Maharashtra. Police said efforts are underway to trace two other suspects who are believed to be involved in the crime.
Jewellery stolen during fake purchase deal
The case came to light after a Chickpet-based jewellery trader lodged a complaint on May 16, alleging that gold ornaments weighing 1.514 kg had been stolen by individuals who had approached him as potential buyers.
According to investigators, the suspects requested permission to photograph the jewellery before finalising the purchase. They allegedly used the opportunity to flee with the valuables.
Following the complaint, police launched an investigation and tracked down one of the accused near Seshadripuram on May 19.
Arrests lead to major recovery
During interrogation, the arrested suspect reportedly confessed to committing the theft along with three associates. Based on the information provided, police arrested the second accused near Prarthana Samaj in Mumbai on May 20.
Investigators found that 220 grams of the stolen gold had been sold to a jewellery shop in Mumbai’s Zaveri Bazaar. Police subsequently recovered 220 grams of gold bullion from the establishment.
Further inquiries revealed that portions of the stolen jewellery had been distributed to associates in Bengaluru’s Chickpet, Avalahalli and Guttahalli areas.
Two accused remanded to custody
Police later recovered an additional 788 grams of gold jewellery from various locations linked to the accused.
In total, 1.08 kg of gold bullion and jewellery valued at approximately Rs 1.64 crore has been recovered.
Both accused were produced before a court and remanded to judicial custody. Police said investigations are continuing to trace the remaining absconding suspects and recover the remaining stolen gold.