Gold fraud: Traders in Kozhikode flay continued delay in arrest of suspect
Jewellery traders in Kozhikode held a protest shutdown due to the police's failure to arrest a suspect in a ₹1.5 crore gold fraud case. The accused allegedly exploited a mutual trust system among local merchants to steal gold.
Why it matters
Illustrates the vulnerabilities in informal business networks and the growing frustration with local law enforcement efficiency.
Jewellery traders in Kozhikode city’s Kammath Lane observed a half-day shutdown on Saturday (August 22, 2026) in protest against the alleged failure of the police to arrest the accused in a major gold fraud case involving jewellery worth ₹1.50 crore.
The protesters aligned under the Kammath Lane Gold and Silver Merchants’ Association complained that there was no breakthrough in the probe even 26 days after the fraud, with the accused still at large. The traders demanded that the investigation be handed over to a senior police officer or a special investigation team (SIT) to get the deserving attention.
The incident leading to the case took place on July 27, when Safarnas, who was running a jewellery shop, reportedly collected 948 grams of gold worth ₹1.5 crore from over 10 jewellery shops in Kammath Lane and disappeared.
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