Gurugram man paid ₹2.49 crore for gold, ended up with brass coins; 4 arrested

Four men in Gurugram were arrested for cheating a resident of ₹2.49 crore and gold by selling fake coins, with a history of similar frauds.

Published on: Apr 16, 2026, 18:41:58 IST

By Leena Dhankhar, Gurugram

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Four men were separately arrested in Gurugram for allegedly cheating a resident of ₹2.49 crore in cash and over 580 grams of gold by passing off brass-coated coins as genuine, police said on Thursday.

Gang sold fake brass coins as gold, cheating victim of ₹2.49 crore. (Representative photo)

A case was registered at Sushant Lok police station on April 1, where the complainant alleged that on February 13, an unknown person approached him with an offer to sell gold and silver coins at cheap rates. The initial coins provided by the accused were verified as genuine, which helped build trust.

On March 2, the accused allegedly collected around ₹2.49 crore in cash—arranged by the complainant on interest—and about 50 tolas of gold from his residence in Sushant Lok, in exchange for what later turned out to be fake brass coins.

Explaining the modus operandi, deputy commissioner of police (crime) Hitesh Yadav said, “Members would pose as poor labourers, claiming they had unearthed gold coins during excavation work. They would request potential buyers to verify a few coins on their behalf, citing fear of police action. Once the coins were confirmed to be genuine, deals would be struck at rates significantly lower than market value—often ₹25–30 lakh per kilogram—creating a strong lure of profit.”

After gaining the victim’s confidence, the gang would deliver bulk quantities of gold-plated brass coins and flee, often travelling hundreds of kilometres to evade arrest, Yadav added.

Cheating history of the interstate gang

Two suspects—Solanki Prabhubhai Gulshanbhai alias Kalpesh alias Ravi, a resident of Vadodara, and Pankaj Sharma from Nihal Vihar in Delhi—were arrested on Sunday. The other two—Manish Kamlesh Shah and Ishwar Marwadi, both from Vadodara, Gujarat—were arrested on Wednesday.

During interrogation, police found that Prabhubhai had been involved in similar frauds for over 25 years, primarily in Mumbai and Gujarat. He has prior criminal cases registered against him, including two in Maharashtra and seven in Gujarat for cheating and related offences.

Police said the accused had amassed significant wealth through fraud, including purchasing a hotel—PM Hotel—on the Delhi-Mumbai road near Karjan Lakodra in Gujarat. He has reportedly married four times and even financed a Gujarati film titled “Love You.”

Investigators also said that the accused had previously duped individuals linked to Bollywood, including actor Aditya Pancholi and an aide of Salim Khan, allegedly cheating them of ₹25 lakh and ₹20 lakh, respectively.

Police have recovered ₹2.30 crore in cash and 678 grams of gold from the accused. Efforts are underway to identify and arrest other members of the gang, the officer said.

ABOUT THE AUTHOR
Leena Dhankhar
Leena Dhankhar is Senior Editor and Bureau Chief, Gurugram, at Hindustan Times, where she has spent over 17 years chronicling the transformation of one of India's fastest-growing urban regions. From starting her career as a crime reporter to leading the Gurugram bureau, her journalism has been defined by investigative reporting, in-depth storytelling and an unwavering focus on public interest. Over nearly two decades, she has reported extensively across crime, politics, civic governance, elections, real estate, environment, courts, sports, education and entertainment, covering Gurugram, Faridabad, Nuh and Palwal. Her reporting has exposed several major scams and systemic failures, including insurance frauds, waste management irregularities, illegal arms manufacturing units in Nuh, illegal mining in the Aravallis, organised crime networks and governance lapses affecting millions of residents. Known for her investigative work and exclusive stories, Leena has reported on high-impact national issues, including the Nicaragua charter flight carrying Indian migrants that was turned back amid allegations of human trafficking, exposing the growing network of illegal immigration rackets. Her work has also focused on gang wars, prison administration, juvenile crime, women and child protection systems, the functioning of the Juvenile Justice Board and Child Welfare Committee, and environmental challenges such as pollution, waterlogging and deteriorating civic infrastructure. Beyond hard news, Leena has extensively documented Haryana's rich heritage, forests and wildlife, bringing attention to the state's historical landmarks, biodiversity, conservation efforts and ecological challenges through immersive reportage and feature writing. Her journalism has consistently gone beyond breaking news. She has documented Gurugram's rapid urbanisation through long-form narratives and enterprise reporting on issues ranging from pothole-ridden roads, flooding and waste management to the changing social fabric of India's Millennium City. She also writes widely read feature columns, including The Outsider, Changemaker, and Concern for Gurugram, profiling people, places and ideas shaping the city's identity. Leena is the author of Gurugram School Murder, published by Juggernaut Books, a deeply reported account of one of India's most high-profile school murder investigations. She is currently working on her second book, an investigative work exploring some of India's most significant scams and fraud investigations. Beyond print journalism, she has expanded her storytelling through public speaking and digital media. She is a TEDx speaker and has produced podcasts exploring Gurugram's transformation, civic challenges and untold stories. Her work reflects a commitment to narrative journalism that combines rigorous reporting with compelling storytelling. A law graduate with an MBA in Human Resources, Leena brings a multidisciplinary perspective to her reporting, particularly on governance, public policy and legal affairs. She has travelled extensively across India to pursue investigative assignments, often reporting from remote locations and conflict-prone areas in search of stories that matter.Read More

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