Feb 2, 2012

India Fake gold coin racket

gold coin value

Following the arrest of a man from Nagpur for allegedly duping a retired Naval officer of Rs 5 lakh on the pretext of selling him gold coins he claimed to have found during excavation at a construction site and passing on fakes, the Cantonment police suspect that the man was not alone but was part of an inter-state gang. On January 29, based on a complaint from Commodore (retired) Devendranath Dinanath Sood (63), a resident of Nyati Estate in Mohammawadi, Lashkar police had arrested Ketharam Mansingh Pawar (55) of Nagpur. PSI Balwant Gavit of Lashkar police station said, “He met Sood on December 29 and pretended to be a labourer. He told Sood he had found some gold coins at a construction site and wanted to sell them. He gave Sood some coins to check whether they were genuine. Sood got them checked by a jeweller and was told they were genuine. So he paid Pawar Rs 5 lakh and received one kilogram of coins, which turned out to be fake.”Read More.