Karnataka man scams Rs 28 lakh in fake gold scheme

A man from Karnataka lost Rs 28 lakh in a fraudulent gold scheme involving two men from Bhuj. The police have registered a case against the suspects, Nawab Haiyat and Iqbal Chauhan. Nizamuddin Sab, the victim, met someone named Kunal Joshi on Facebook eight months ago. Joshi offered a gold business, selling gold at 15% below market price. He invited Sab to Bhuj to discuss the deal. During the meeting, Joshi arranged for Sab to see gold biscuits and asked for an initial payment of Rs 5.80 lakh. Although Sab made the payment, he didn’t receive any gold. The suspects claimed there were police checks delaying the delivery. Later, they sent Sab to Mumbai, where he received one gold biscuit. Feeling confident, he decided to invest more money. He sold his property and sent Rs 27 lakh through an angadiya service, believing he was making a profitable investment. However, when Sab was promised a customs officer would deliver the gold, it never arrived. He was asked for another Rs 5 lakh for clearance, which he paid. After that, he was told he needed to provide an additional Rs 15 lakh, so he sold his wife's jewelry to raise the funds. Once he sent the money, the suspects stopped responding to him. Sab later discovered their true identities and found they had refunded only Rs 14 lakh. On March 14, when he confronted them again, they claimed to be bankrupt and warned him against contacting the police.