BENGALURU: Are you planning to buy gold thinking prices have dropped or looking for shops offering "zero wastage"? Hold that thought. A sophisticated fraud network is active in Bengaluru, preying on innocent buyers by promising gold at unbeatable rates. A man from Sarjapur recently learned this the hard way, losing a staggering ₹2 crore to a well-planned trap in HSR Layout.

The Trap: Betrayed by a Relative

The victim, identified as Puneeth, was looking to purchase gold for an upcoming wedding in the family. His relative, Savitha Reddy, convinced him that MP Jewellers in HSR Layout offered gold with minimal wastage charges and high purity.

Trusting his relative, Puneeth visited the store on March 27. Savitha personally escorted him and facilitated a deal worth ₹2 crore.

The "Come Tomorrow" Tactic

After Puneeth handed over the cash, the shop owner, Indrachand, told him that the stock was being processed and asked him to collect the gold the following day. However, when Puneeth returned, the tone had changed. Indrachand dismissed him, claiming he had already "settled the matter with Savitha." When Puneeth approached Savitha, she redirected him back to the owner. It soon became clear that the duo had colluded to swindle his hard-earned money.

A Serial Fraudster at Work

Upon investigating Indrachand’s background, Puneeth discovered that he wasn't the first victim. Indrachand is allegedly a habitual fraudster who insists on cash-only transactions to avoid a paper trail and legal complications. Savitha’s role was to scout for unsuspecting "prey" and bring them to the shop.

Serious Allegations Against HSR Layout Police

While an FIR has been registered, the victim has leveled serious allegations of negligence against the HSR Layout police:

No Arrest Despite FIR: Even though a formal complaint was lodged, the police have allegedly failed to arrest the accused.

Business as Usual: Shockingly, despite the ongoing case, Indrachand is reportedly running his shop openly as if nothing happened.

Bail Rejected, Yet Free: Reports suggest that even after the court denied anticipatory bail to the accused, the police have shown no urgency in taking him into custody.

The Victim's Plea: "Commissioner Sir, look at the games your officers are playing. The accused is roaming free and conducting business despite the court rejecting his bail. Is there one law for the rich and another for the poor?"

Safety Tips for Gold Buyers:

Avoid Large Cash Deals: Always use traceable banking channels (RTGS/NEFT/Cheque) for high-value purchases.

Verify the Reputation: Don’t trust a shop solely based on a "recommendation" from a middleman or relative.

Too Good to Be True: If the price or wastage charges are significantly lower than market standards, it is likely a scam.