Two more arrested in ₹63-lakh gold fraud case

Representative image | Photo Credit: Getty Images/iStockphoto The city police arrested two more persons in connection with cheating a wholesale gold dealer of ₹63 lakh. The police recovered ₹44.5 lakh in cash allegedly swindled from the victim.According to the police, the complainant, Anmol Jain, 24, of Aminjikarai, runs a wholesale gold jewellery business with his relative, Namith. On July 17, Namith informed him that two men had offered to sell gold at a price below the prevailing market rate and asked him to bring ₹63 lakh in cash for the transaction.Anmol met the suspects near Arumbakkam metro station before they took him to a commercial complex, claiming the gold was available there. Shortly afterwards, four more persons arrived on two motorcycles.Anmol allegedly handed over ₹63 lakh to one of the accused, who passed it to another member of the group. When he sought to inspect the gold, the suspects told him that the cash had to be counted first.The accused then allegedly persuaded Anmol to accompany them to another location near Gemini Flyover, claiming the gold was stored there. While travelling, one of the motorcycles sped away.When Anmol contacted one of the suspects by phone, he was told that another member of the group had met with an accident and was being taken to hospital. The phones were later switched off, following which Anmol realised he had been cheated and approached the police.Based on his complaint, the Egmore police arrested four accused Santhakumar, 61, Sriram, 23, and two others on July 18. Subsequently, the police arrested two more suspects who have been identified as Shakthivel, 23, a resident of Perambur, who is suspected to be the mastermind, and Viswak, 23, of Kondithoppu. With the latest arrests, six persons have been held in the case and ₹45.05 lakh has been recovered totally. Further investigation is on. Published - July 23, 2026 07:47 pm IST