Mumbai resident held for looting people with promises of cheap gold

A Mumbai-based man was arrested on Friday by Thane police for allegedly looting people by promising them gold at cheap rates, an official said.

Three cases have been uncovered in which the accused, a resident of Byculla in the metropolis, promised people gold seized by banks at cheap rates, Thane Crime Branch property cell senior inspector Anand Raorane said.

”When clients used to arrive with cash to buy cheap gold, the accused used to loot the money. In one case, he took away Rs 25 lakh of a man after threatening him with a chopper under Srinagar police station limits here,” he said.

The man has been arrested and efforts are on to nab other members of his gang, the official said.