Alleged gold fraud: suspect at large arrested from Malappuram

The Town police on Friday arrested a local trader accused of absconding after collecting gold ornaments worth ₹1.39 crore from several jewellery establishments in the city for sale on a commission basis.

The accused, identified as Safarnas of Parambil Bazaar, was arrested from Malappuram. He allegedly collected over 118 sovereigns of gold ornaments from multiple jewellers on July 27.

Police sources said Safarnas had been engaged in selling gold ornaments on behalf of various jewellery shops for a commission. He allegedly failed to return either the jewellery or the sale proceeds after collecting the consignments. His mobile phone was subsequently found switched off, they said.

The alleged cheating came to light after the jewellers, unable to contact him, approached the police. A case was registered on a complaint by K.M. Rajeevan, proprietor of one of the outlets.