Police arrest jewellery firm official in multi-crore gold scam
LUCKNOW, April 23 -- Almost a year after registering a case, Chowk police on Tuesday arrested Lucknow branch head of a Bangalore based jewellery company for allegedly embezzling over 18.5 kg of gold ornaments worth over Rs 25 crore as per current rates in connivance with traders, Police officials said on Wednesday.
Police officials said the accused had been evading arrest for months. "The accused was involved in systematic siphoning of gold ornaments through manipulation of transactions and coordination with traders," said ACP Rajkumar Singh. "Singh has been produced before a court," he added.
"The accused, identified as Kamal Singh (42), a resident of Balaganj under Thakurganj police station limits, was arrested on Tuesday from near the Ring Road while he was attempting to move out of the area," said station house officer of Chowk Nagesh Upadhyay.
According to police, the case dates back to December 2024, when a complaint was filed by Umesh Kumar, general manager of Manappuram Jewellers Limited's manufacturing unit in Bengaluru. "The complaint alleged that Singh, brand head of the firm in Lucknow having a unit near Gol Darwaza had misappropriated 22-carat gold jewellery weighing 18,531 grams by colluding with retail and wholesale traders over a matter of 4-5 years of his employment," the SHO informed. He added, Singh would steal very little amount of gold every month which customers had pledged for collateral....
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