Gurugram | An inter-state fraud syndicate that duped victims of crores by offering “cheap gold coins” under the pretext of excavation discoveries has been busted. The gang, allegedly led by a Class 4-educated mastermind, used a carefully planned strategy to target not just common citizens but also individuals linked to the film industry. Four accused have been arrested so far, while efforts are underway to trace other members of the network.
According to investigators, the mastermind behind the racket is Solanki Prabhu Bhai, who has allegedly been executing such frauds for nearly 25 years. The other arrested accused have been identified as Manish Kamlesh, Ishwar Marwadi, and Pankaj Sharma. Authorities have recovered ₹2,30,05,700 in cash and 678 grams of gold from their possession, indicating the scale and reach of the operation.
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The case came to light in February when a Gurugram-based businessman fell prey to the gang. As per the complaint, the victim was changing his car tyre near Pachgaon Chowk when a man approached him, posing as a labourer engaged in excavation work. The accused claimed that he had discovered gold coins during digging but could not sell them in the open market due to fear of legal action.
To gain the victim’s trust, the accused offered a few coins for verification. The businessman got them tested at a jeweller’s shop, where they were found to be genuine gold. Encouraged by this, further negotiations took place, and the accused later offered to sell a large quantity of coins at a heavily discounted price.
It is alleged that the accused arrived with a bag containing around 10–11 kilograms of coins and demanded ₹1 crore per kilogram. Lured by the prospect of massive profit, the businessman agreed to purchase five kilograms of coins. To arrange the money, he mortgaged his house and handed over ₹2.5 crore in cash along with family jewellery. However, about 20 days later, when the coins were re-examined, they were found to be made of brass, exposing the fraud.
Based on technical evidence and surveillance, investigators tracked down and arrested the accused from different locations. During interrogation, it emerged that gang members would disguise themselves as poor labourers and approach unsuspecting individuals in isolated areas, highways, and public places. They would narrate convincing stories about “excavated gold” to lure victims into the scam.
Probe findings suggest that the gang operated across multiple states, including Haryana, Delhi, Gujarat, Maharashtra, and Rajasthan. Several similar frauds are suspected to have been carried out in these regions. It has also been revealed that the mastermind had previously targeted individuals connected to the film industry, though many such incidents went unreported.
Further investigation uncovered that the fake gold coins were manufactured in Delhi’s Sultanpuri area and then supplied to different parts of the country. The gang is also believed to have involved female members, some of whom had been arrested earlier in similar cases.
The lifestyle and activities of the accused have surprised investigators. It is alleged that the mastermind used the proceeds of crime to purchase a hotel and even invested in film-related ventures. He is also reported to have multiple marriages and an interest in local political activities.
During court proceedings, the prosecution stated that several crucial aspects of the case are still under investigation, including bank accounts, digital transactions, and identification of assets acquired through illicit funds. The accused are currently being interrogated, and raids are being conducted to apprehend other members of the syndicate.
The case once again highlights how the lure of quick and high returns can lead individuals into financial traps. Experts advise that any deal offering unusually high profits or suspiciously low prices should be thoroughly verified before making financial commitments.
Investigators are now working to unravel the entire network layer by layer. More arrests and significant revelations are expected in the coming days as authorities continue to probe deeper into this inter-state fraud operation.
