A Jeweller Faked A Robbery In Order To Get Insurance Coverage

The increase in recycling was more than likely because of customers cashing in on historic excessive gold prices. According to the World Gold Council’s Gold Demand Trends report, India’s gold demand fell within the second quarter of 2023. The gold consumption for the quarter was down in comparison with the same period in the earlier 12 months.


The proprietor of a jewelry store in Nagarathpet registered a grievance at the Cottonpet police station on July 12. He informed the police that his nephew, who was carrying the crystal rhinestones home, was robbed by two bike-borne males. Everything was recorded after the gold was brought to the shop. He made positive that the nephews act of leaving the shop was recorded.

One of the nephews came out of the station and took the bag with the gold into another automotive. When he arrived on the location with a number of others, he acted as if they have been looking for the criminals all over. They contacted the police along with the bike and made a complaint.

They Stole 20 Tola Gold From The Jewelry Retailer

The Cottonpet police solved the case of the robbery. Police found that he was going to sell the gold and claim the insurance. On the day of the complaint, police found a call on the messaging service. They became suspicious when the technical method did not work and tracked the calls made by the man and his nephew.

The Two Minor Nephews Have Been Skilled For 15 Days To Hold Out The Plan

The decline in jewellery demand was brought on by the high rupee gold costs, which negatively impacted affordability and shopper sentiment. There was a brief but notable impact on gold demand on account of the ban of 2,000 notes through the quarter. Compared to the identical interval in the earlier 12 months, gold recycling saw a pointy increase in Q, with a exceptional 61% enhance.

The two minor nephews have been educated by their uncle for 15 days to carry out the plan.

The nephews were told to name Raju once they reached the planned spot on the flyover. They hid the bag with the gold contained in the boot space of their scooter. After that, he referred to as an unknown particular person and gave the police the clue. He confirmed that the robbery might be staged on the Sirsi Circle flyover where no cameras are put in. He made certain that the whole scene of packing the jewelry within the evening was captured by the cameras.

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