Guwahati Traders Allegedly Dupe Ahmedabad Jeweller Of ₹2.19 Crore, Hand Over Fake Gold Bars

Four jewellery traders from Guwahati and West Bengal have been booked for allegedly cheating an Ahmedabad jeweller of gold ornaments worth ₹2.19 crore by taking delivery of the consignment and allegedly handing over counterfeit gold bars in place of payment, police said.

The Economic Offences Wing of the Ahmedabad Crime Branch registered the case following a complaint by Rakeshbhai Arvindbhai Soni, 52, proprietor of Jainam Jewel in Ratanpol.

The accused allegedly gained the complainant's confidence through smaller business transactions before placing a large order for more than 1.6 kg of gold jewellery, according to the complaint.

Four Traders Booked In ₹2.19-Crore Gold Fraud Case

The accused have been identified as Munirbhai, proprietor of Jewa Jewels in Guwahati and a resident of Hooghly in West Bengal; Azizbhai, proprietor of Aasik Jewels in Guwahati; Jabuddinbhai Hajibhai, proprietor of Jasmine Jewels in Guwahati; and Talubhai, identified as Jabuddinbhai's nephew.

According to Soni's complaint, he was introduced to the four men through his cousin in February 2026.

The traders allegedly visited his shop and initially gave him small orders for gold earrings and anklets. Payments for those orders were allegedly made promptly, helping establish trust between the parties.

In March, Soni and another jeweller, Naim Akhtar Malik, travelled to Guwahati and visited the accused traders' shops. Soni told police that the visit further strengthened his confidence in their business dealings.

Order Placed For 1,624 Grams Of Gold Jewellery

On April 5, Munirbhai allegedly contacted Soni through WhatsApp and placed an order on behalf of the four traders.

The order included gold sets, chains, men's rings, anklets, women's rings and bracelets, with a total weight of 1,624 grams of 22-carat gold jewellery. The consignment was valued at around ₹2.19 crore.

The accused allegedly assured Soni that the entire payment would be made upon delivery.

As the order was too large for Soni to complete alone, he joined hands with Malik to manufacture the jewellery.

Soni prepared jewellery weighing 808.790 grams, valued at around ₹1 crore, while Malik prepared another 815.210 grams worth approximately ₹1.19 crore.

Jewellery Delivered In Guwahati, Bars Given Instead Of Payment

Soni and Malik travelled to Guwahati to deliver the consignment. According to the complaint, Soni carried around 400 grams of jewellery by air, while his employee, Chirag Rabari, transported the remaining consignment by train.

On April 23, Soni allegedly handed over the entire consignment to the four accused at Munirbhai's jewellery shop in Guwahati.

After checking the jewellery, the accused allegedly told Soni that payment would be handed over at his hotel.

Instead, the complaint alleges, they handed him nine purported 24-carat gold bars weighing around 1,494 grams, claiming they were temporarily short of funds and asking him to accept the bars against the value of the jewellery.

The traders allegedly assured Soni that the bars were genuine and had been legally purchased. They allegedly told him that bills would be sent by courier as the bars were made from old gold.

Bars Allegedly Found To Be Gold-Plated

After returning to his hotel, Soni examined the bars and allegedly discovered that they were gold-plated and contained another metal inside.

He contacted Munirbhai through a video call and showed him the bars, the complaint stated. Munirbhai allegedly acknowledged the issue and assured him that the bars would be replaced.

Soni alleged that the accused continued to make assurances over the following days but neither replaced the bars nor returned the jewellery or paid its value.

He later travelled to Dankuni in West Bengal and met Munirbhai at his residence, where he was allegedly again promised that the bars would be exchanged.

Phones Switched Off, EOW Begins Investigation

According to the complaint, despite repeated assurances, neither the money nor the jewellery was returned. Soni alleged that the accused subsequently switched off their phones.

He has accused the four traders of acting together to gain his confidence through smaller transactions, obtain the gold jewellery and then allegedly hand over counterfeit bars instead of making payment.

The Ahmedabad Crime Branch's Economic Offences Wing has registered a case and launched an investigation.

Police are expected to examine the business dealings between the parties, travel and communication records, the bars allegedly handed to the complainant, bank transactions and the whereabouts of the accused. Investigators will also examine whether other jewellers may have been targeted in a similar manner.