Belagavi Gold Shop Owner Arrested for Allegedly Staging Robbery to Cheat Customers

Belagavi Police arrested gold shop owner Krishnananda Vernekar for allegedly staging a robbery at his own jewellery shop in Ramdev Galli to cheat customers.

Vernekar had reported the robbery on July 17, claiming 376 grams of gold, 4 kg of silver, and cash were stolen.

Police recovered 519.8 grams of gold ornaments (₹62 lakh), 31 grams of silver (₹6,000), ₹2,83,010 cash, and a scooty from Vernekar's possession.

Belagavi Police Commissioner Bhushan Borase said Vernekar conspired to falsely claim theft to cheat customers providing gold loans.