Pune Police Uncover ₹18 Crore Gold Fraud, Arrest Shop Manager and Associates
Police bust ₹18 crore gold fraud, arrest shop manager, accomplices
Hindustan Times
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The Pune police have arrested Prashant Kantilal Barmecha, the manager of a jewellery shop, along with two accomplices for allegedly defrauding the shop owner of nearly ₹18 crore. The fraud was discovered during an internal audit, leading to the recovery of gold and cash valued at ₹5.24 crore.
- 01Pune police arrested three individuals involved in a gold fraud scheme worth ₹18 crore.
- 02The main accused, Prashant Kantilal Barmecha, had been employed at the jewellery shop for nearly 30 years.
- 03The fraud was uncovered during an internal audit revealing significant shortages in gold stock and cash.
- 04Police recovered gold, a luxury car, and cash totaling ₹5.24 crore.
- 05The accused have been remanded to police custody until April 25.
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The Pune police anti-extortion squad has arrested three individuals, including Prashant Kantilal Barmecha, a 61-year-old jewellery shop manager, for allegedly orchestrating a gold fraud scheme worth nearly ₹18 crore. The other arrested accomplices are Ramakant Mahadev Parale, 62, and Maheshwari Ramakant Parale, 22, both from Kedgaon in Ahilyanagar district. The fraud was discovered during an internal audit in March 2026, which revealed a significant shortage of gold and cash at a prominent jewellery shop on Laxmi Road. The accused misused their positions to systematically divert gold and valuables over the past year. Police have recovered 3 kg 552 grams of gold valued at ₹3.90 crore, a luxury car, a mobile phone, and ₹80,000 in cash, bringing the total value of recovered items to ₹5.24 crore. The accused have been remanded to police custody until April 25.
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This incident highlights the vulnerabilities in the jewellery industry and the importance of internal audits to prevent fraud.
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