Businessman cheats jeweller of Rs 4.82 cr on pretext of buying gold, designing jewellery: Mumbai

Mumbai: A 51-year-old businessman has been arrested by Mumbai Police for allegedly cheating a jeweller of Rs 4.82 cr. The arrest was made by DB Marg Police station. 

The accused had promised the jeweller to buy gold for him and design the jewellery on Italian pattern. 

The accused has been identified as Bhupendra Makhejiya, a resident of Vile Parle. The jeweller told police Bhupendra told him that he has started a gold designing unit and bought a machine for this purpose, according to a report in Times of India.

According to police, Bhupendra told the victim that he could buy gold for him and design the jewellery on Italian pattern as this will help the jeweller in saving on the import duty.  

"The accused also allegedly lured the victim saying he will not charge any jewellrey design fees," the report quoted a police officer as



saying. 

The jeweller transferred the money into the account of the accused through RTGS after the two agreed for a deal. However, Bhupendra never gave the gold or return the money to the jeweller. After this, the jeweller approached the police with a complaint. 

During the course of the investigation, police found out that Bhupendra neither bought any machine nor started any jewellery design unit.

Police later filed an FIR under section 405 (criminal breach of trust), 420 (cheating) of IPC against the accused.

Police said they are examining the financial records of Bhupendra to know what he did with the money he received from the jeweller.

According to police, prima facie it appeared that the accused used the money for his own business. Police said the accused is also facing another cheating case at LT Marg police station.