Two Nagpur bullion brokers accused of keeping sale money from 132 grams of gold jewellery

A case of alleged fraud involving gold jewellery has come to light in Nagpur's Itwari bullion market. It is alleged that two bullion brokers took 132 grams of gold jewellery from a trader's shop on the pretext of showing it to customers. The jewellery is valued at Rs 21.61 lakh. The trader says the brokers sold the jewellery but kept the money instead of returning it to him. When he did not get the money for several months, the matter reached Tehsil police.

The case relates to Shaheed Chowk in the Itwari bullion market, which falls under the Tehsil police station area. The complainant, trader Uttam Phoolchand Kashyap, is 63 and lives at Darodkar Chowk on CA Road. He runs a shop named Gulabchand Sahebalal Jewellers at Shaheed Chowk, described as an ancestral shop about 63 years old.

There is a practice in the bullion market. Small traders and brokers take jewellery from larger shopkeepers to show to customers, and pay the trader once the jewellery is sold. It is alleged that the two brokers exploited this trust and allegedly committed fraud.

According to the complaint, the accused have been identified as Prasanna Praful Saraf and Praful Premchand Saraf, who live in the Nicholas Mandir premises in Lakadganj. Both took 132 grams of pure gold jewellery on the pretext of showing it to customers. It has also emerged that their signatures are recorded in the shop's memo register for the transaction.

The total market value of the jewellery is put at Rs 21,61,976. It is alleged that the money the two received from selling the jewellery was not returned to Kashyap and was used for their personal needs.

Kashyap alleges that he demanded the money from both for several months, but no payment was made. The matter then reached the police.

Tehsil police are currently investigating. The inquiry will examine documents relating to the transaction, the signatures recorded in the memo register and facts relating to the sale of the jewellery. The allegations can be confirmed only after the investigation.