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The Egmore police arrested four persons for allegedly cheating a wholesale gold trader of ₹63 lakh by luring him with an offer to supply gold at a discounted price.

Police sources said the complainant, Anmol Jain of Aminjikarai, runs a wholesale gold jewellery business along with his relative, Namith.

His relative told Anmol on July 17 that a person was willing to sell gold at a price lower than the prevailing market rate and advised him to finalise the deal.

The police said Anmol met a man identified as Sriram, who introduced him to Sakthi and Sakthi’s father, Santhakumar. The two allegedly claimed to own a jewellery business at Fountain Plaza and assured him that they could supply gold in bulk at a discounted price.

Trusting their assurance, Anmol handed over ₹63 lakh to Sakthi. The accused told him that he would deposit the money upstairs and return shortly with the gold and the purchase invoice before leaving the premises.

A few minutes later, Santhakumar allegedly pretended to receive a phone call and asked Anmol to wait at a sweets shop near the Gemini Flyover, claiming that the gold would be delivered there.

When no one turned up and Sriram gave evasive replies over the phone, Anmol realised that he had been duped and lodged a complaint with the Egmore police.

Based on the complaint, the police registered a case and launched an investigation. They arrested Santhakumar, Sriram, Ramkumar, and Udaykiran, and seized ₹50,000 in cash and two motorcycles.

The police said Sakthi, the prime accused, is still on the run. A special team has been constituted to secure his arrest.

Published - July 21, 2026 07:23 pm IST