Thane Crime Branch apprehends fraudster; gold and cash worth crores recovered

Thane: The Thane Crime Branch arrested a 46-year-old man for allegedly defrauding jewellers and customers of gold worth several crores. Police claim to have recovered gold bars valued at around ₹3 crore along with ₹17.50 lakh in cash, though sources indicate that the recovery may be partial.The accused, identified as Jivaram Vardhaji Chaudhary, a resident of Jambhli Naka in Thane and originally from Rajasthan, was absconding since Oct 2025. According to investigators, he targeted prominent jewellers in Thane and Bhiwandi during the Diwali season by offering high-quality gold at attractive rates, gaining their trust before cheating them.Two cases were registered against him at Thane Nagar Police Station under provisions of the Bharatiya Nyaya Sanhita, 2023, following complaints from affected traders. There are also suspicions that the total quantity of siphoned gold may be higher than what has been officially reported.Police teams tracked the accused across multiple states as he frequently changed locations to evade arrest. Acting on a tip-off, officers laid a trap near Ghodbunder Road and apprehended him on March 23, 2026.During police custody, which lasted until April 2, sustained interrogation led investigators to Pali in Rajasthan, where the stolen assets were allegedly concealed. The recovered property includes gold bars weighing a total of 1,957.79 grams, valued at around ₹2.30 crore, along with ₹17.50 lakh in cash.Sources have also raised concerns that the full extent of the stolen gold and subsequent recovery may not have been completely disclosed. 413 |