The Dahod Local Crime Branch (LCB) in Gujarat has seized an alleged fake bank fraud racket and arrested three suspects for allegedly cheating a jeweller of 200 grams of gold. Gold biscuits, cash, mobile phones and other valuables like gold jewelry were recovered during the raid, they said.
Police said the swift action was made based on specific intelligence inputs that led investigators to the accused. During the search, there was evidence of major involvement in the fraud.
VIDEO | Dahod,Gujarat: In a swift operation, Dahod Local Crime Branch busted a fake bank fraud racket and arrested three accused for allegedly cheating a jeweller of 200 grams of gold. Acting on intelligence inputs, police recovered gold biscuits, cash, mobile phones and other… pic.twitter.com/jHM3T6gbEd
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Deputy Superintendent of Police J.P. Bhandari said the accused are using fictitious methods to pose as bankers to deceive the jeweller and to obtain gold illegally. This modus operandi is being investigated as part of the investigation.
Gold biscuits, cash, mobile phones and other items worth about ₹38.80 lakh were found by Local Crime Branch officers during searches. The seized items will be key in the investigation and a further step of legal action.
Police have registered a case against the three accused under the law. They are in search of the full sequence of events and any other persons involved in the racket according to the law.
Deputy SP Bhandari said the investigation will also probe the criminal backgrounds of the accused to find out if they were involved in similar fraud cases elsewhere.
The investigation is still uncovering the accused’s criminal history and any links to similar fraud cases, he said.
Police will also want to see if the suspects were part of a larger organised network targeting jewellers and businesses through fake banking transactions or other financial fraud schemes. Digital evidence from their mobile phones and other electronic devices seized during the operation is being investigated, he said.
Those who have been spared by the successful enforcement of the law in the past should know that intelligence-based policing is key in the fight against financial fraud and preventing firms from suffering more losses. Police have advised traders and jewellers to be watchful of high-value financial transactions and be very careful of sophisticated fraud.
Further arrests and recoveries can be achieved as the investigation continues. Dahod Local Crime Branch has said all aspects of the case will be thoroughly investigated to identify any wider network behind the alleged fraud.
