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

Belagavi Police arrested a gold shop owner for allegedly staging a robbery at his own jewellery shop to cheat customers. Police recovered gold ornaments, cash and a scooty during the investigation. The accused has been remanded to judicial custody.

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Gold Merchant Arrested for Allegedly Orchestrating Robbery at Own Shop

Police have arrested a gold merchant for allegedly orchestrating a robbery at his own jewellery shop in Belagavi. 

The accused has been identified as Krishnananda Vernekar, who owns a gold shop in Ramdev Galli and is also engaged in the business of providing gold loans.

According to the police, Vernekar was taken into custody following an investigation into the alleged robbery at his shop. Further investigation into the case is underway.

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Police Investigation Takes a New Turn

Krishnananda Vernekar, who had approached the Khadebazar Police Station on July 17 to report a robbery at his jewellery shop, has now been arrested in connection with the case.

In his complaint, Vernekar alleged that 376 grams of gold, 4 kg of silver and cash had been stolen from the shop. After registering the case, the police visited the spot with a dog squad, while fingerprint experts carried out a detailed examination of the premises.

During the preliminary investigation, the police found that a Scorpio SUV without a registration number plate had reportedly arrived near the shop around the time of the alleged robbery. The investigation later took a new turn, ultimately leading to Vernekar's arrest.

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Gold Ornaments Recovered From Accused's Scooty

During the investigation, police recovered gold ornaments from the scooty belonging to the accused, Krishnananda Vernekar.

According to the police, they seized a scooty worth ₹45,000, 519.8 grams of gold ornaments valued at ₹62 lakh, 31 grams of silver ornaments worth ₹6,000, and ₹2,83,010 in cash from his possession.

The accused has been remanded to judicial custody, and further investigation is underway.

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Belagavi Police Commissioner Shares Details of the Case

Providing details of the case, Belagavi Police Commissioner Bhushan Borase said the accused had been running a jewellery shop for the past several years and was also engaged in the business of accepting gold from customers and providing loans against it.

According to the commissioner, the police suspect that the accused conspired to falsely claim that the gold and silver had been stolen in an attempt to cheat customers. He added that the investigation into the case is continuing.

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Police Continue Investigation Into Scorpio SUV

Belagavi Police Commissioner Bhushan Borase said the investigation is continuing to identify the person who arrived near the jewellery shop in a Scorpio SUV on the night of the alleged robbery.

He said the identity of the individual is expected to be established soon as the investigation progresses. Borase also confirmed that a charge sheet will be filed against Krishnananda Vernekar, who had initially lodged the robbery complaint.