In a major crackdown, Borivali Police have arrested a 39-year-old conman, Rakesh Bhimsen Bagla, for allegedly duping jewellers across Mumbai by selling and mortgaging gold-coated fake ornaments stamped with forged hallmark symbols. The fraud came to light after a Borivali-based jeweller reported a loss of Rs 19.43 lakh.
Bagla, a native of Bathinda, Punjab, had been living in various rented accommodations in Mumbai to avoid detection. Married to a woman from Assam, Bagla is said to have been involved in similar frauds in Thane, Taloja, and possibly other states.
The case began on May 9, when a 51-year-old jeweller on SV Road, Borivali West, accepted a 51.050g gold chain from a man identifying himself as Vikrant Thakur. The chain was exchanged for 44g of new gold ornaments, with the customer promising to return later with his PAN card.
Suspicion arose when the jeweller returned and noticed inconsistencies in the chain. Upon melting a sample, it revealed a copper core, confirming it was counterfeit gold. CCTV footage and call data records (CDRs) helped trace Bagla to Ulwe, Navi Mumbai, despite his frequent SIM swaps.
Bagla had earlier been arrested in 2019 for a similar offence and changed his identity post-release to continue duping jewellers. Investigators believe he sourced the realistic-looking forged hallmark jewellery from Uttar Pradesh, and a manhunt is on for his suppliers.
Senior Inspector Maloji Shinde, PSI Rajesh Kadam, DCP Anand Bhoite (Zone 11), and ACP Sunil Jaybhaye supervised the probe.
“He would mortgage or sell the fake jewellery. Due to the realistic hallmark, many jewellers were tricked. Once melted, the fraud was revealed — but by then, he had vanished,” said an officer.
Bagla has been remanded to judicial custody, and police suspect a wider interstate racket based on his modus operandi.
