A 46-year-old man has been arrested in Thane for allegedly defrauding jewellers, leading to the recovery of gold bars worth ₹2.3 crore after a multi-state police investigation.
A 46-year-old man has been arrested in the city for allegedly cheating jewelers and gold bars worth Rs 2.3 crore have been recovered from his possession, police said on Friday.
Jeevaram Vani Chaudhary was nabbed by the Crime Branch Unit-1 following a multi-state probe, a police release said.
Chaudhary, who hails from Rajasthan, allegedly duped several jewelers in Thane and Bhiwandi during Diwali in 2025 by offering to supply high-quality gold. The jewelers paid him in advance, after which he allegedly vanished without providing the promised quantity of the yellow metal.
Cases were registered against him at Thane Nagar police station under relevant provisions of the Bharatiya Nyaya Sanhita.
Chaudhary evaded arrest by changing his location constantly, but finally a team led by police sub-inspector Deepak Ghuge tracked him down and arrested him last month, the release said.
During the investigation, the team travelled to Rajasthan's Pali district and recovered valuables including gold bars weighing over 1.9 kg worth Rs 2.30 crore along with Rs 17.5 lakh in cash.
Further investigation is underway.