part of the cheated amount was used to open new jewellery shops in Uttar Pradesh, while the remaining cash and assets were hidden at different locations. (File Photo)
The Panchkula police has busted a fraud racket involving two jewellers who allegedly duped at least 10 families of over Rs 56 lakh on the pretext of offering cheap gold and attractive kitty schemes. The accused were arrested from Uttar Pradesh and Delhi, the police said.
According to the police, the accused had opened a shop under the name Shri Haridas Jewellers in Madhawala in 2025 and lured customers with promises of discounted gold jewellery and lucrative savings schemes. They allegedly collected advance payments in cash and through bank transfers, assuring delivery of jewellery around Diwali. However, after collecting Rs 56.75 lakh from 10 victims, they shut their shop and went incommunicado.
The case came to light following multiple complaints, including one by a woman from Morni. Acting on these, the Pinjore police registered an FIR on November 28, 2025, under relevant sections of the Bharatiya Nyaya Sanhita and launched an investigation.
The police said the accused were identified as Om Prakash, a resident of Bihar, who was arrested from Uttar Pradesh, and Paras Mani Dubey, a resident of Uttar Pradesh, who was nabbed from Delhi on March 27 by the Madhawala police team. During their arrest, the police recovered five mobile phones, silver jewellery, watches and cash from their possession.
During interrogation, the accused allegedly confessed that they had opened the shop to trap customers and later fled with the money and valuables. They also revealed that part of the cheated amount was used to open new jewellery shops in Uttar Pradesh, while the remaining cash and assets were hidden at different locations.
Deputy Commissioner of Police (Panchkula) Srishti Gupta said the arrests were made following swift action by the Madhawala police team led by in-charge Man Singh and investigating officer ASI Captain Singh.
“The accused systematically cheated around 10 people of more than Rs 56 lakh by luring them with cheap gold schemes. Several crucial disclosures have been made regarding properties purchased using the fraud money, shops opened in other states and concealed cash,” she said.
The accused were produced in court and remanded in four days of police custody. The police said raids would be conducted at multiple locations in Uttar Pradesh and Bihar to recover the remaining cash, gold and silver jewellery, and to identify other members of the network.