A shocking gold fraud worth nearly ₹2 crore has surfaced in Bengaluru, leaving a city resident alleging that he was cheated by a jewellery shop owner and a close acquaintance who promised him gold at a lower price ahead of a family wedding.
The complaint, filed at the HSR Layout Police Station, describes how the victim Puneeth, who lives in Sarjapur, was drawn into the deal after being told that he could buy gold at rates below the market price with minimal wastage charges. Since the purchase was meant for an upcoming wedding in the family, the offer seemed both timely and financially attractive.
According to Puneeth, his relative Savitha Reddy introduced him to a jewellery shop called MP Jewellers in HSR Layout. The store is owned by a man identified as Indrachand. Trusting the recommendation of a family member, Puneeth decided to move forward with the purchase.
On March 27, he visited the shop along with Savitha Reddy. During the meeting, the parties reportedly finalized a gold deal worth approximately ₹2 crore. Puneeth claims that after accepting the payment, the shop owner asked him to return the next day to collect the gold.
However, when Puneeth came back to the store as instructed, he did not receive the gold. Instead, he was reportedly told to speak with Savitha Reddy regarding the delivery. When he contacted her, she allegedly redirected him back to the shop owner. This back-and-forth left Puneeth confused and suspicious.
As he tried to get clarity, Puneeth began to suspect that both the shop owner and his relative may have been working together in the alleged fraud. Further inquiries, he claims, suggested that the accused might have used similar tactics to cheat other buyers as well.
Puneeth also alleged that many of the transactions connected to the deal were conducted in cash, which could make it harder to trace the money trail and avoid strict legal scrutiny.
Following the incident, Puneeth approached the police and filed a formal complaint. A case was registered at the HSR Layout Police Station. Despite this, he claims that no arrests have been made so far.
The victim further alleged that even though a court reportedly denied bail to the accused, they continue to run the jewellery business openly. This has raised serious concerns for him about the pace and seriousness of the investigation.
Frustrated with the lack of action, Puneeth has now appealed to senior officials in the Bengaluru City Police, urging them to intervene and ensure that the matter is properly investigated.
The case has drawn attention because of the large amount involved and the allegations that the accused may have deceived multiple people using the same method. Authorities are expected to examine the complaint in detail as the investigation moves forward, while Puneeth continues to seek justice and accountability in what he calls a carefully planned fraud.