Mumbai’s Zaveri Bazaar Shocked as Two Artisans Escape with ₹1.25 Cr Gold

Mumbai, India: In a shocking case of fraud, two artisans have allegedly fled with gold jewellery worth ₹1.25 crore from Mumbai’s Zaveri Bazaar, one of India’s biggest jewellery hubs. The accused, Varun Jana and Srikant, were entrusted with repairing 1,536 grams of 22-carat gold ornaments but disappeared without a trace.

The victim, Nilesh Jain, a jeweller from Kalachowki, had known the artisans for a long time and regularly assigned them jewellery-making and repair work. Between January 1 and 19, 2025, he handed over the ornaments, only to find them unreachable soon after. Their phones were switched off, confirming the fraud.

Jain reported the matter to LT Marg police, who have registered a case of embezzlement and fraud. A search operation has been launched, with police teams dispatched outside Mumbai to track down the suspects and recover the stolen jewellery.