KOCHI: Police on Friday arrested four persons from Surat, Gujarat, for allegedly defrauding goldsmiths from Namakkal, Tamil Nadu, by taking Rs 50 lakh after providing soil falsely claimed to contain gold particles.
The arrested suspects were identified Sandeep Hasmukh Bhai, 37, Vipul Manji Bhai, 43, Dharmesh Bhai, 38, and Krupesh Bhai, 35.
In addition to the Rs 50 lakh, they also obtained a cheque worth Rs 18 lakh from the victims. According to police, the accused persons had rented a building on North Janatha Road, Palarivattom, and set up a fake gold-processing unit.
The victims learnt about the gold processing unit last month through agents. The accused persons told victims of having soil containing high quantities of gold particles had been collected from gold factories across India. Approximately 500 sacks of this soil were stored at the unit, and the goldsmiths were given 5 kg samples for verification.
"The suspects had a specially prepared table with a weighing scale at their office in Palarivattom. When the sample was placed on the scale, one of the accused, hiding beneath the table, injected a gold solution into the sample using a syringe through a pre-made hole. This trick led the victims to believe the soil was rich in gold," a police officer stated.
After processing the sample and discovering more gold than expected, the Tamil Nadu goldsmiths were convinced and paid Rs 50 lakh along with two cheques worth Rs 18 lakh to purchase five tons of soil on March 18. However, upon further examination of the purchased soil, they realised the fraud. The victims soon approached the police with a complaint.
As part of the investigation, police collected CCTV footage from the location and tracked down the suspects. They were arrested from their hideouts in Kochi. Investigators also found that similar fraud cases had been registered against the suspects at police stations in Sendamangalam, Tamil Nadu, and Ernakulam North Police Station in Kochi.
"Our preliminary probe revealed that the accused had been operating a fake gold-processing unit in Kochi for two years. Before July 2024, they had a similar operation in Ernakulam North, where they deceived a Mumbai native using the same scheme. The victims are traditional goldsmiths who collect soil and extract gold particles from it," said Sub-Inspector Harishankar OS, who led the investigation.
The investigation was supervised by Assistant Commissioner of Police P Rajkumar and Palarivattom Station House Officer KR Rupesh. The investigation team included Sub-Inspectors Harishankar OS and Kaleshan G, ASIs Sishosh PV and Shanivas TM, and SCPOs Jossy KP, Aneesh NA, and Sreekuttan.
The accused were presented in court and remanded into judicial custody. Police are expected to file a petition seeking further custody of the suspects for more questioning.