A Jeweller Faked A Robbery Of Rs 4 Cr Gold To Get Insurance Coverage

A criticism was registered at the Cottonpet police station by the proprietor of a jewellery store. He told the police that his nephew, who was carrying the jewelry home, was robbed by a bike-borne duo. From the time the gold was dropped at the store to the time it was packed, everything was recorded. He made positive that the nephews act of leaving the shop was recorded.


The improve in recycling was most likely because of consumers cashing in on excessive gold costs. According to the World Gold Council’s Gold Demand Trends report, India’s gold demand fell within the second quarter of 2023. The total gold consumption for the quarter declined by 7% in comparison with the same period within the previous 12 months.

A Jeweller Faked A Theft To Get Insurance Coverage

The two minor nephews have been trained for 15 days to hold out the plan.

The decline in jewelry demand was brought on by the report high rupee gold prices, which negatively impacted affordability and shopper sentiment. Following the ban of 2,000 notes through the quarter, there was a short but notable influence on gold demand. Gold recycling saw a significant improve in Q in comparison with the identical interval within the earlier yr.

India’s Q2 Gold Jewelry Consumption Is Down 8%

As instructed, the nephews carrying the bag reached the deliberate spot on the flyover and referred to as Raju. They hid the bag with the gold within the boot space of their scooter earlier than he arrived. The police got a clue after he called an unknown individual. He confirmed that the robbery shall be staged on the Sirsi Circle flyover the place no cameras are installed. The whole scene of packing the jewellery on the shop within the night was captured by the cameras.

Cottonpet police solved a robbery that was lodged by a city jeweller. Police discovered that he was going to promote gold and declare insurance. The name was made on the crystal elements rhinestones day of the grievance. They turned suspicious when the technical method did not work and tracked the calls made by the man and his nephew.

One of the nephews got here out of the station and took the bag with the gold into one other car. When he arrived on the location, he and some others acted as if they were on the lookout for the criminals. They went to the police with the bike and filed a complaint.