Jeweler in Thane Accused of Defrauding Supplier of ₹93.5 Lakhs in Gold Jewelry Scam

In a significant case of fraud, a jeweler in Thane, Maharashtra, has been accused of cheating a supplier out of ₹93.5 lakhs in gold jewelry. The jeweler, who has been in business for three years, reportedly failed to pay for the jewelry purchased despite numerous reminders. Following a complaint from the supplier, police have filed a case against him under relevant sections of the Indian Penal Code. This incident highlights ongoing issues of trust and financial misconduct in the jewelry industry.

By Narendra Chaudhary Jun 23, 2025, 11:01 IST

Fraud Case Filed Against Jeweler in Thane

In Thane district, Maharashtra, law enforcement has initiated legal action against a jeweler for allegedly defrauding a supplier of gold jewelry amounting to ₹93.5 lakhs.

An official reported on Monday that the accused operates a shop in the Khardi area of Shahpur and has purchased 950 grams of gold jewelry from the supplier over the past three years.

The officer from the Kalyan Market Police Station stated that despite multiple reminders, the jeweler failed to settle the payment of ₹93.5 lakhs for the goods acquired from the supplier.

Following the victim's complaint, police registered a First Information Report (FIR) against the accused under sections 316(2) (criminal breach of trust) and 318(4) (cheating) of the Indian Penal Code on Sunday.