Mysuru Gold Savings Scam Mohan Jewellery Owner Arrested Over Crores Of Customer Fraud

The latest gold fraud case in Mysuru has left hundreds of customers worried about money they had carefully saved through a jewellery instalment scheme. Police have arrested Mohan Lal, the owner of Mohan Jewellery near Vivekananda Circle, following complaints that customers were allegedly cheated of crores of rupees.

The case has come to light soon after another major gold related fraud case in the city, adding to concerns among customers who depend on jewellery savings schemes to plan future purchases.

According to the complaint, Mohan Jewellery had introduced a monthly gold savings scheme for customers. Under the plan, customers were asked to make regular payments for 15 months. The jewellery store allegedly promised to provide an additional benefit equivalent to two months of instalments as a bonus.

The scheme initially appeared reliable to customers. The business had reportedly conducted two earlier rounds of the scheme and had delivered jewellery to customers after they completed their payments. This helped the store build confidence among its customers.

That trust reportedly played a major role when the third round of the scheme was introduced. Many customers began putting aside money every month, with some saving specifically for weddings and other important family expenses.

Customers were reportedly given scheme cards through which they could deposit money every month. The minimum payment was said to be Rs 500, while customers could contribute a higher amount depending on their financial capacity.

The scheme attracted people from different sections of society. Among those who reportedly invested were daily wage workers and middle class families who had been putting aside part of their monthly earnings in the hope of purchasing gold later.

The situation changed suddenly when the jewellery shop remained closed for several days. Customers who had been making regular payments became concerned after finding the premises shut.

When some of them tried to contact the owner, they allegedly found that his phone had been switched off. Customers later reportedly discovered that Mohan Lal had left his residence with his family and was no longer available at the usual locations.

The sudden closure triggered panic among the people who had deposited money through the scheme. Several affected customers came together and approached Kuvempunagar police to submit complaints.

Police began investigating the matter after receiving the complaints. During the investigation, officers reportedly traced Mohan Lal and took him into custody near the jewellery shop on the night of September 2.

The arrested jewellery owner is now being questioned as police work to establish the full scale of the alleged financial fraud and determine how much money was collected from customers through the scheme.

Police are also searching for Mohan Lal’s son, who is reportedly suspected of having a role in the case and is currently untraceable.

For the affected customers, the immediate concern is recovering the money they had deposited over months. Many of them had reportedly saved the funds for important family needs, making the alleged disappearance particularly distressing.

The police investigation is expected to bring more details about the number of customers involved, the total amount collected and the manner in which the scheme was operated. Officials are also likely to examine the financial transactions connected with the jewellery business as part of the investigation.

The case remains under investigation, and further action will depend on evidence gathered by the police and statements from the complainants.