2 days ago
Man and brother arrested for stealing gold worth Rs 3 crore from employer
Mumbai: LT Marg police arrested a sales executive Dilip Sampatraj Jain (44) and his brother Vikram Sampatraj Jain (44), for allegedly misappropriating 3.5 kg of gold jewellery worth Rs 3 crore belonging to his employer, a wholesale mangalsutra trader in Kalbadevi.
They were produced before court and was remanded to police custody. The complaint involves allegations of systematic fraud between April 2024 and March 2025.
According to the complaint, the victim, who operates "Shri Ambika Gold," employed Dilip as a salesman to supply mangalsutras to traders in Andhra Pradesh and Telangana. The accused would regularly travel with jewellery stock, sell to traders, and return payments in cash or bank transfers.
An audit in March 2025 revealed a shortage of over 3 kg of jewellery. When confronted, Dilip allegedly claimed the items were sold and bills would be issued after April 1.
Enquiries with traders revealed no such transactions. Investigations indicate Dilip misappropriated the stock, transferred large sums to Vikram's account.
Police seized 1.5 kg of 18-karat gold during the probe. Investigators allege the brothers diverted business funds for personal gains.
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