The Hubballi Suburban police have arrested two individuals for allegedly duping multiple people by selling counterfeit gold coins, unearthing a fraud scheme that relied on deception and counterfeit craftsmanship.
The suspects, identified as Abid Pasha and Fairoz Nadaf, were apprehended after several victims approached the police claiming they had been sold fake gold coins by the duo. According to officials, the accused had been posing as agents offering “pure gold” coins at below-market prices, allegedly claiming the coins were obtained from pawned family heirlooms or unclaimed temple donations.
Modus Operandi: Selling Deception as Gold
Investigations revealed that Pasha and Nadaf had been operating in crowded marketplaces and residential neighbourhoods, targeting unsuspecting individuals looking for investment opportunities in gold. They allegedly carried coins that appeared to be genuine upon visual inspection, complete with fake hallmark stamps and sophisticated polishing to mimic real gold.
Police said that the victims were shown one authentic coin as a sample to build trust, after which they were sold multiple counterfeit coins. Once the payment was made, the accused would quickly disappear from the area. A forensic test conducted on the recovered coins confirmed that they were made of brass alloy coated with a thin gold-like layer.
Police Response and Public Warning
Deputy Commissioner of Police (Law and Order) Renuka Sukumar confirmed the arrests and stated that a case under IPC Sections 420 (cheating) and 489A (counterfeiting) had been registered. “This appears to be part of a larger inter-district racket, and we are investigating possible links to similar complaints reported in Dharwad and Belagavi,” she said.
Authorities have urged the public to be cautious of street vendors or unknown individuals offering gold at discounted prices, and to only buy gold through licensed jewellers or verified platforms. The accused are currently in police custody, and further investigations are underway to trace their supply chain and other possible accomplices.