Jeweller flees with gold worth Rs 26 lakh | mumbai | Hindustan Times
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Jeweller flees with gold worth Rs 26 lakh

The police are on the lookout for a 32-year-old jeweller, who allegedly fled with approximately one kg of gold jewellery – worth around Rs26 lakh – that was mortgaged to him by customers, in exchange for money that he lent them.

mumbai Updated: Aug 19, 2011 01:34 IST
Mohamed Thaver

The police are on the lookout for a 32-year-old jeweller, who allegedly fled with approximately one kg of gold jewellery – worth around Rs26 lakh – that was mortgaged to him by customers, in exchange for money that he lent them.

The accused, Parasmal Kumawat, and his family, have been missing for the past one week. They stayed in the Prabhat Nagar area of Ghatkopar. He is suspected to have left the city, said the Pant Nagar police. They suspect that the rising gold prices may have prompted Kumawat to flee with the jewellery.

“In August first week, customer’s found that Kumawat’s shop – Mansi Jewellers, in at Ramabai Ambedkar Nagar was closed. Kumawat too, was unreachable,” said police inspector J Agarkar from Pant Nagar police station.

When the shop was closed for more than a week, the customers approached the police..

“We found that Kumawat was absconding, following which we registered a case under section 420 (cheating) of the Indian Penal Code against him”, added Agarkar.

A team from the Ghatkopar police station went to Kumawat’s native place in Rajasthan on August 11, but could not find him there either. We detained Kumawat’s friend – also a jeweller from the same area- from whose residence we recovered some of the jewellery that Kumawat had fled with. He claimed Kumawat was fed up with customers not paying back the money he had loaned them, and hence he fled.