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Bengaluru: The Halasuru Gate police has arrested a wholesale trader for allegedly cheating a Nagarathpet-based jeweller of 1.5 kg of gold worth Rs 30 lakh.
The accused, identified as 32-year-old Mohanlal, was arrested after the jeweller lodged a complaint on August 1.
The police seized two gold bars weighing 305.42 gm and a gold melting machine from him.
The complainant, who runs a manufacturing factory in Nagarathpet, told the police that he met the trader three months ago.
On July 14, the trader promised to convert his 22-carat gold ornaments into 24-carat (999 gold) bars of the same weight.
Trusting the offer, the jeweller handed over 1 kg 537 grams and 350 milligrams of ornaments. The trader took the gold, claiming he would examine it and return in five minutes, but disappeared.
Following the complaint, the police traced and arrested him on August 26 near a house at 10th Cross, Kalyan Nagar, Dasarahalli. During interrogation, he admitted to melting the jewellery and converting it into bars.
The police recovered 100 grams of gold from his shop and another 205.42 grams, which he had used to repay a debt at another jewellery store. The gold melting machine used in the fraud was also seized.
The accused was produced before the court on August 27 and remanded to police custody for 11 days. On September 6, he was produced again and remanded to judicial custody.