Alleged gold fraud: suspect at large arrested from Malappuram
Town police arrested Safarnas of Parambil Bazaar in Malappuram for allegedly absconding with gold ornaments worth ₹1.39 crore after collecting them on a commission basis. The arrest follows a complaint by jeweller K.M. Rajeevan and a subsequent investigation that traced the suspect to the district.
- ✓Town police arrested Safarnas of Parambil Bazaar in Malappuram for allegedly absconding with gold ornaments worth ₹1.39 crore after collecting them on a commission basis.
- ✓According to police statements, Safarnas collected more than 118 sovereigns of gold, valued at approximately ₹1.39 crore, from multiple jewellers on July 27.
- ✓He was engaged to sell the items on commission but allegedly failed to return either the jewellery or the proceeds.
The Town police announced on Friday that they have taken into custody Safarnas, a local trader from Parambil Bazaar, accused of fleeing after collecting gold ornaments on behalf of several jewellery shops. The arrest was carried out in Malappuram after the suspect was located following a formal complaint.
According to police statements, Safarnas collected more than 118 sovereigns of gold, valued at approximately ₹1.39 crore, from multiple jewellers on July 27. He was engaged to sell the items on commission but allegedly failed to return either the jewellery or the proceeds. The case was lodged after K.M. Rajeevan, the proprietor of one of the affected outlets, reported the missing consignments and noted that Safarnas’s mobile phone was switched off.
Investigators indicated that Safarnas had been operating from a rented jewellery shop, reportedly owned by an expatriate, and had built trust with local merchants over several years. The incident has raised concerns among jewellery traders about the risks of commission-based sales arrangements, prompting police to warn other businesses to exercise caution when entrusting valuable consignments.
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| Issuing Authority | The Hindu National |
|---|---|
| Topic Category | BUSINESS |
| Jurisdiction | KL State |
| Publication Date | 11 September 2026 |