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

The Cottonpet police solved the case of the theft. Police found that he was going to sell gold and declare insurance coverage. The name made on the day of the criticism was discovered by police. When the technical strategy didn’t work, they turned suspicious and tracked the cellphone calls made by the person and his household.


One of the nephews got here out of the station and moved 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 robbers all over. They contacted the police together with the bike, and filed a complaint.

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The two minor nephews had been trained by their uncle for 15 days to carry out the plan.

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The document excessive rupee gold prices, which negatively impacted affordability and consumer sentiment, was one of the elements that contributed to the decline in jewelry demand. There was a short however notable impact on gold demand crystal rhinestones following the ban of two,000 notes during the quarter. Compared to the same period within the earlier 12 months, gold recycling saw a pointy increase in Q, with a remarkable 61% improve.

India’s Q2 Gold Jewelry Consumption Dropped By 8%

As instructed, the nephews carrying the bag reached the deliberate spot on the flyover and called Raju. They hid the bag with the gold within the boot area of their scooter before his arrival. After that, he known as an unknown particular person and gave the police the clue they had been on the lookout for. He confirmed that the theft shall be staged on the Sirsi Circle flyover the place no cameras are installed. He made sure that the whole scene of packing the jewelry at the shop in the evening was captured by the cameras.

The enhance in recycling was most likely due to consumers cashing in on historic excessive gold prices. According to the World Gold Council’s Gold Demand Trends report, India’s gold demand fell within the second quarter of 2023. Despite an increase in value, the whole gold consumption for the quarter recorded a decline.

A complaint was registered at the Cottonpet police station by the proprietor of a jewelry store. He informed the police that his nephew, who was carrying the jewelry home, was robbed by a bike-borne duo. Everything was recorded from the time the gold was delivered to the shop. The nephew carrying the bag out of the shop and leaving was recorded.