A major fraud case has surfaced in Ludhiana's prominent Sarafa Bazaar, where two persons, a man and his son, allegedly duped their business partner of 2 kg of gold. The suspects, identified as Jatinderpal and his son Rahul Vashisht, who operated RN Jewellers in partnership with the complainant, have been booked by Police Division 1 on charges of criminal breach of trust and cheating.
Complainant's Allegations
The complainant, Navneet Kumar, told the police that Jatinderpal and Rahul Vashisht gained his trust by promising handsome profits in the gold business. Believing them, he entered into a partnership under the name of RN Jewellers in Sarafa Bazaar. To boost the business, he handed over nearly 2 kg of gold to the duo. However, soon after receiving the gold, the suspects allegedly conspired to cheat him.
Without informing him, the suspects allegedly sold the entire 2 kg of gold to their relatives and family members. When Kumar asked for accounts and payment, they started making excuses. The complainant further alleged that hefty payments received from their relatives were pocketed by the suspects, and no money was given to him till date.
Police Action
Following the complaint, the police registered a case and launched further investigation. The suspects have been booked under relevant sections of the Indian Penal Code for criminal breach of trust and cheating. The police are now probing the matter to recover the gold or the proceeds from its sale.
Impact on Business Community
The incident has sent shockwaves through the Sarafa Bazaar, a major hub for gold and jewellery trade in Ludhiana. Business partners are now wary of trust-based transactions, and many are demanding stricter verification processes. The case highlights the risks in informal partnerships where large quantities of precious metals are involved without proper documentation.
