Archive · 8 Aug 2025
Zaveri Bazaar Traders Accused in Gold Trading Scam
Some traders in Mumbai's Zaveri Bazaar are in trouble.
They promised people big profits if they invested in gold trading.
One person invested a lot of money and gold, hoping to make more.
But then, the profits stopped coming.
It turns out, the traders were doing something called 'dabba trading,' which is against the law.
This kind of trading isn't regulated, and it led to the investors losing a lot of money.
Now, the investors are complaining to the police about the situation.
Three Zaveri Bazaar traders are accused of defrauding investors through a gold trading scam.
The traders allegedly promised substantial returns on investments.
An investor put in approximately Rs 44 crore, including 36 kg of gold and cash.
The traders cited business struggles when returns stopped.
Dabba trading, an illegal practice, led to the losses.
- Who
- Three Zaveri Bazaar traders and investors.
- What
- Three Zaveri Bazaar traders allegedly defrauded investors in a gold trading scam.
- When
- The timeline of the scam and investment details were not specified.
- Where
- Mumbai's Zaveri Bazaar.
- Why
- The traders engaged in illegal dabba trading, resulting in losses.
Investors
Traders
Financial Loss
Investors
Victims of fraud, seeking the return of their investments.
Traders
Accused of operating a fraudulent scheme.
- Location
- Mumbai, Zaveri Bazaar
- Alleged Crime
- Gold Trading Scam
- Amount Involved
- Rs 44 crore (approx.)
- Gold Involved
- 36 kg
- Trading Type
- Dabba trading (illegal)
- Police Station
- Lokmanya Tilak Marg police station