The Hubballi Suburban Police have arrested two individuals, Abid Pasha and Fairoz Nadaf, for allegedly duping multiple people by selling counterfeit gold coins, uncovering a sophisticated fraud scheme.
According to officials, the duo posed as agents offering “pure gold” coins at below-market rates, claiming the coins came from pawned family heirlooms or unclaimed temple donations. Several victims reported that they were sold fake coins after being shown a single authentic coin as a sample to gain trust.
Investigations revealed that Pasha and Nadaf targeted crowded marketplaces and residential areas, selling coins that appeared genuine, complete with fake hallmark stamps and polishing to mimic real gold. Forensic testing confirmed the coins were made of brass alloy coated with a thin gold layer.
Deputy Commissioner of Police (Law and Order), Renuka Sukumar, confirmed that cases were registered under IPC Sections 420 (cheating) and 489A (counterfeiting). She added that this operation might be part of a larger inter-district racket, with potential links to similar complaints in Dharwad and Belagavi.
Authorities have cautioned the public to buy gold only through licensed jewellers or verified platforms and to avoid street vendors offering discounted gold. The accused are currently in police custody, and investigations are ongoing to trace their supply chain and other possible accomplices.
