CHENNAI: The Egmore police have arrested four persons on charges of cheating a wholesale gold merchant of Rs 63 lakh by promising to sell him gold below market rate. The alleged mastermind is yet to be arrested. Police recovered Rs 50,000 in cash and seized two bikes allegedly used in the offence.
The arrested are Santhakumar, Sriram, Ramkumar and Udaykiran. The complainant, Anmol Jain of Aminjikarai, runs a wholesale gold business with his relative Namith. Police said Namith learnt on July 17 about a person claiming to supply gold in bulk at a discounted price.
Believing the offer, Anmol arranged for his staff, Rajendra Jain, to bring Rs 63 lakh to Egmore. Police said Sriram introduced Anmol to Sakthi and his father, Santhakumar, who claimed to run a jewellery business.
After taking the cash, Sakthi left saying he would return with the gold and invoice. Santhakumar then allegedly asked Anmol to wait near a shop close to the Gemini Flyover. When the accused failed to return, Anmol lodged a complaint. Efforts are on to trace Sakthi.