Fake traders pose as Delhi gold buyers, flee with ₹3 crore jewellery in Bengaluru

In a daring daylight heist in Bengaluru, a three-member gang posing as wholesale gold buyers allegedly fled with 1.85 kg of gold ornaments worth more than ₹3 crore from a private jewellery firm, police said on Thursday.

According to investigators, the accused identified as Paresh Soni, Chandrashekhar Rao and Shyam allegedly posed as genuine gold wholesalers to gain the confidence of employees at Mehta Gold Private Limited before executing the theft.

Police registered an FIR based on a complaint filed by Mahendra Kumar D Jain, sales manager of the firm. Investigators said Soni had introduced himself as a Delhi-based wholesale gold trader interested in purchasing jewellery in bulk.

As per the complaint, Jain and another employee, Prakash, were instructed by a senior colleague to carry nearly 3 kg of gold jewellery samples from the company’s Nagarathpet outlet to the office of Maahi Enterprise on Sampige Road in Malleswaram. The two employees reached the office at around 3:15 pm carrying a bag filled with gold ornaments.

Once there, Soni allegedly introduced them to his associates, Shyam and Chandrashekhar Rao. While Soni selected ornaments, Shyam reportedly used a testing machine to inspect the jewellery and note down the weight of each item.

Police said Soni then allegedly handed around 1.85 kg of gold ornaments to Rao, who was seated in a nearby cabin, claiming he needed to prepare a list and photograph the designs. Rao allegedly fled with the ornaments shortly afterwards.

Moments later, Shyam also left the office, telling the complainants he would bring Rao back. Neither of them returned.

“The accused appeared well-prepared and gained the confidence of the firm by posing as genuine wholesale buyers,” a police officer said.

CCTV footage reportedly shows Rao leaving the office building carrying a bag. Investigators suspect the office may have been a temporary set-up designed to appear legitimate and gain the trust of the jewellery firm’s employees.

“The accused are currently absconding. We are examining CCTV footage and technical evidence and expect to track them down soon,” the officer added.

The three accused have been booked under Sections 305(a) (theft), 318(4) (cheating and dishonestly inducing delivery of property), and 3(5) (common intention) of the Bharatiya Nyaya Sanhita.