How did a trader get duped with 'fake' gold biscuits in Bengal?
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Synopsis
In a shocking incident, a gold trader was duped into exchanging valuable jewellery for fake gold biscuits. With an agreement between two dealers, the scheme unraveled when the authenticity of the biscuits was questioned, leading to a police investigation. This incident highlights the risks and vulnerabilities in the jewellery trade.
Key Takeaways
- Be cautious when engaging in high-value trades.
- Verify the authenticity of items before finalizing exchanges.
- Trust plays a critical role in business transactions.
- Report suspicious activities immediately to authorities.
- Stay informed about market scams and fraudulent practices.
Kolkata, Dec 3 (NationPress) A gold trader was deceived by an individual who exchanged jewellery worth Rs 33 lakh for counterfeit gold biscuits, according to police reports released on Wednesday.
Police investigations reveal that a contract was established between a jewellery merchant in Hooghly district and a workshop in Ghola, North 24 Parganas, to trade gold biscuits for gold jewellery.
An employee from the Ghola workshop returned after receiving the gold biscuits from the Hooghly dealer, but upon verifying their authenticity, the workshop owner discovered them to be forged.
The Hooghly jewellery dealer has since gone missing.
The workshop owner lodged an initial complaint at the Ghola police station, which was later forwarded to the Posta Police Station. Authorities have initiated an inquiry into the case.
According to police, the jewellery workshop owner resides in Nataghar, Ghola. A jewellery dealer from Hooghly had approached him, resulting in an agreement for the Ghola dealer to provide jewellery in exchange for gold biscuits instead of cash. The Hooghly dealer stated he would not visit Ghola but would meet at Sonapatti in Kolkata instead.
Subsequently, around 259 grams of gold jewellery was dispatched via an employee.
A senior police official commented, "The jewellery was exchanged in front of a sweet shop in Sonapatti. The individual received jewellery worth Rs 33 lakh in a package, and in return, he provided two gold biscuits. These were difficult to differentiate from genuine ones. However, after testing them at the workshop, it was confirmed they were entirely fake."
In response to the complaint, police conducted a raid in Rishra, Hooghly district, in search of the implicated gold dealer, recovering some jewellery from his residence. Nevertheless, the accused remains at large. Police have announced ongoing efforts to apprehend the gold dealer.
Point of View
This incident underscores the vulnerabilities within the jewellery market, where trust is paramount. Such deceptions not only impact individual traders but also tarnish the reputation of the industry at large. NationPress remains committed to delivering thorough coverage on issues affecting our economy and societal integrity.
NationPress
03/12/2025
Frequently Asked Questions
What happened in the gold trading incident?
A gold trader was deceived into exchanging jewellery worth Rs 33 lakh for fake gold biscuits.
Where did the incident take place?
The incident occurred in Kolkata, West Bengal.
What have the police done about the case?
Police have initiated an investigation and conducted raids in search of the accused.
How much jewellery was involved in the exchange?
The jewellery involved was valued at Rs 33 lakh.
What was the outcome of checking the gold biscuits?
The biscuits were found to be fake upon testing by the workshop owner.
