Two booked for cheating south Mumbai businessman of Rs 2.3 crore in gold coin scam
The victim was promised genuine gold coins from Valcambi Suisse, a well-known Swiss precious metals refining company
3 min read
Retired Lieutenant General Sudarshan Hasabnis
He explained that any war is like a boxing match where each boxer will be on the receiving end of some punches.The Dongri police have booked two people for allegedly cheating a 48-year-old businessman from south Mumbai of Rs 2.3 crore in a gold coin scam. The victim was promised genuine gold coins from Valcambi Suisse, a well-known Swiss precious metals refining company.
However, police said the accused handed over gold-plated coins filled with sub-standard silver.
According to police, the complainant has identified two suspects as Abdul Rauf and Pamesh Khimawat. The complainant told police that he usually buys gold ornaments from Zaveri Bazaar and sells them at his store in Dongri. Similarly, Rauf — a frequent visitor to his store — would often purchase silver coins and other gold jewellery and resell them, due to which the complainant and Rauf had known each other for some time.
According to police, on April 12, Rauf visited the complainant’s shop and claimed that an acquaintance of his— Khimawat, who is also a businessman — had purchased gold coins from Valcambi Suisse in 2020 and now wanted to sell them as gold prices were high.
“He then produced seven gold coins, each weighing 100 grams, and showed them to the complainant. As the coins bore the name, serial number, and other identifying details of Valcambi Suisse and were being offered at a price lower than the market rate, the complainant believed them to be genuine and handed over Rs 64.40 lakh,” said an officer.
On April 13, Rauf returned to the shop and offered another 10 gold coins, which the complainant purchased for Rs 92 lakh. The following day, the complainant bought an additional eight gold coins for Rs 73.6 lakh.
However, when he later asked Rauf for the invoices for the coins, Rauf gave evasive responses. Suspecting foul play, the complainant inspected the coins more closely. He contacted Rauf and informed him that he would be opening the packaging to check the authenticity of the coins.
“Rauf initially tried to mislead the complainant, but the latter proceeded to open the packaging and discovered that the coins were merely gold-plated, with sub-standard silver inside. He then approached Rauf and demanded a refund,” said an officer.
Rauf later claimed that Khimawat had refused to return the money and eventually stopped responding to calls and messages. The complainant realised he had been duped and filed a police complaint.
The Dongri police have registered a case of cheating against Rauf and Khimawat and are currently trying to locate them.
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