A Jeweller Faked A Theft Of Rs Four Cr Gold To Assert Insurance Coverage

The Cottonpet police solved a case of theft. Police found that he was going to promote the gold and claim the insurance. The name made on the day of the complaint jewellery sets for women was discovered by the police. They grew to become suspicious when the technical strategy did not work and tracked the phone calls of the person and his nephew.


The nephews had been advised to call Raju as they reached the deliberate spot on the flyover. They hid the bag with the gold within the boot house of their scooter. After that, he called an unknown person and gave the police a clue. He confirmed the theft shall be staged on the Sirsi Circle flyover the place no cameras are put in. The complete scene of packing the jewelry at the store in the night was captured by the cameras.

The proprietor of a jewelry store in Nagarathpet registered a grievance at the Cottonpet police station. He told the police that his nephew, who was carrying the jewelry in a bag, was robbed by a bike-borne duo. From the time the gold was delivered to the store, every little thing was recorded. He made positive that the nephew’s act of leaving the shop and carrying the bag was recorded.

India’s Q2 Gold Jewelry Consumption Dropped By 8%

One of the nephews got here out of the station and moved the bag with the gold into one other automobile. When he arrived at the location, he and a few others acted as in the event that they had been in search of the robbers all over. They contacted the police along with the bike and made a complaint.

The two minor nephews have been skilled by their uncle for 15 days to hold out the plan.

The Thieves Fled With 20 Tola Gold

The enhance in recycling was most likely because of customers cashing in on the high gold costs. According to the World Gold Council’s Gold Demand Trends report, India’s gold demand fell within the second quarter of the 12 months. The gold consumption for the quarter was down compared to the identical period in the previous yr.

The Two Minor Nephews Have Been Skilled By Their Uncle For 15 Days To Carry Out The Plan

The decline in jewellery demand was attributable to the high rupee gold costs, which negatively impacted affordability and client sentiment. There was a quick however notable impact on gold demand following the ban of 2,000 notes during the quarter. Gold recycling noticed a pointy enhance in Q in comparison with the same period within the previous year, with a remarkable 61% increase.