Mumbai Man Arrested for Gold Fraud Worth Over ₹1.5 Crore

A man accused of orchestrating a multi-city gold fraud has been arrested by Mahim police. Mukesh Suryawanshi, also known as Maddy Surya, was taken into custody at a hotel in Pune. The 33-year-old allegedly posed as a wealthy entrepreneur to lure people into investing in cheap gold schemes, defrauding them of lakhs of rupees.

According to officials, Suryawanshi has six cases of cheating and criminal breach of trust registered against him at various police stations across Mumbai. He had previously secured bail on medical grounds during the COVID-19 pandemic but remained on the run until his arrest.

Police investigations suggest that he duped over 60 individuals, including farmers and professionals, from districts like Dhule, Nashik, Jalgaon, and Pune. One of the victims, a 28-year-old fashion designer, was reportedly taken to Dubai by Suryawanshi, where he staged a photoshoot with Moroccan models to build credibility. She claims he swindled her out of ₹1.5 crore.

Crime PI Dinesh Dahatonde of Mahim Police stated that Suryawanshi’s intention from the beginning was to cheat. To gain the trust of his targets, he would create fake documents, claim to own multiple companies, and deliver a few orders before cutting off contact.

One specific case dates back to 2018, where a Pune woman lost ₹42.80 lakh. In another instance, a farmer was convinced to invest gold with the promise of double returns.

He has been booked under IPC Sections 406 (criminal breach of trust), 409 (criminal breach by public servant or agent), 420 (cheating), and 34 (common intention). The police suspect that his father and other relatives may also be involved. Suryawanshi is currently in police custody until March 30.