Jeweller accused of duping investors of over Rs 1.5 crore arrested

Times News Network

Barwani : A jeweller was arrested on Sunday in Anjad town of Barwani for allegedly duping multiple investors of more than Rs 1.52 crore through fake gold transactions and fraudulent investment schemes promising high returns,.

The jeweller, Jayraj Chaudhary (48), a resident of Sirvi Mohalla in Anjad was produced before a local court on Sunday, which sent him to police custody, Anjad police station in-charge RR Chauhan said.

Police said Chaudhary was absconding in connection with three separate criminal cases involving cheating, criminal breach of trust and intimidation, he added.

In a case registered in 2024, complainant Sanjay Goyal of Anjad alleged that he had handed Rs 88.97 lakh to Chaudhary for purchase and preparation of gold ornaments. Police said the accused later supplied gold that was found to be fake.

In another case registered in 2025, complainant Hiralal Sirvi alleged that he had invested Rs 37.83 lakh with the accused after being promised monthly returns of 1.25 percent. The money and promised returns were never repaid, and the complainant was allegedly threatened when he demanded his funds back.

A third case registered this year pertains to allegations by Anil Parihar and other investors, who claimed they had collectively entrusted Rs 25.36 lakh to Chaudhary on similar promises of monthly interest. Police alleged that the accused dishonestly misappropriated the funds.