Two directors arrested in Rs 15 crore gold jewelery scam, Mumbai EOW caught from Bengaluru
Mumbai The Economic Offenses Wing (EOW) of Mumbai Police has taken major action in the case of alleged fraud of Rs 15.09 crore related to gold jewellery. EOW has arrested two directors of a jewelery company for purchasing gold jewelery worth crores of rupees and not paying for it.
The arrested accused have been identified as Bindu Selvakumar (45) and Anandamurthy Natarajan (40), both residents of Tamil Nadu. Both the accused are said to be directors of the concerned company. According to the police, both were arrested on August 11, 2026 from Mahadevapura police station area in Bengaluru, Karnataka.
Accused of buying more than 10.5 kg gold jewelery
According to the investigating agency, the accused are accused of purchasing gold jewelery weighing more than 10.5 kg from a Mumbai-based company. Several promises were made regarding payment after purchase, but the outstanding amount was not paid on time.
The complainant alleges that the accused repeatedly assured to make payment, but despite this the amount amounting to crores of rupees remained pending. After this the company lodged a complaint with the police.
Case registered after complaint
According to the remand application of EOW, the case was registered on the basis of the complaint of Sanyam Prem Mehra. Bindu Selvakumar, Selvakumar Sudalaimani Kasirajan, Anandamurthy Natarajan, Vijayakumar and Abhis Gemglow Jewelers Pvt Ltd have been named as accused in the complaint.
A case has been registered against the accused under sections 316(5), 318(4) and 3(5) of the Indian Judicial Code (BNS). The police started investigating the case and started investigating the activities and financial transactions of the accused.
Arrest made from Bengaluru
Mumbai EOW team traced the location of the accused during the investigation. After this, taking action, he was arrested from Mahadevapura area of Bengaluru.
After the arrest, the accused were brought to Mumbai for further legal process. The police are now investigating other accused and the entire transaction related to the case.
Economic Offenses Wing is investigating
The Economic Offenses Wing investigates serious economic crimes and large financial matters. In this case also, EOW is trying to find out how the alleged fraud was committed and how many people are involved in it.
The investigating agency is collecting information about the bank accounts, financial records of the company and business transactions of the accused. Apart from this, it is also being investigated where and for what purpose the purchased gold jewelery was used.
Police keeping an eye on financial matters worth crores
Continuous action is being taken in cases of economic crimes in Mumbai. Due to the large scale of transactions in the jewelery business, investigating agencies in such cases conduct thorough scrutiny of documents and financial records.
Police officials say that in this case also the investigation is being carried forward keeping all the aspects in mind. If the role of other people comes to light in the investigation, action can be taken against them also.
Further action continues
At present EOW is interrogating both the arrested directors. Police are trying to find out what were the reasons behind the non-payment and whether it was a planned plan.
The complete picture of the case will be clear only after the investigation is completed. At present, the Economic Offenses Wing of Mumbai Police has intensified the investigation considering it to be a case of financial fraud worth crores of rupees.
