The accused, a resident of Pandit Nagar in Beed, was arrested from his newly opened jewellery shop in Dehugaon near Pune district in Maharashtra on Thursday, an official said

A jeweller from Maharashtra 's Beed district was arrested for allegedly defrauding at least 16 customers of Rs 2.5 crore by providing fake gold ornaments that were used to secure loans from a bank, said on Friday, reported the PTI.

The accused identified as Vilas Udawant, a resident of Pandit Nagar in Beed, was arrested from his newly opened jewellery shop in Dehugaon near Pune on Thursday. Read More

During the raid, police also seized 18 kilograms of silver from the premises.

According to officials, Udawant previously ran a jewellery shop in Beed and had allegedly devised a fraudulent scheme to get rich quic

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