Police in Rajkot have registered a major embezzlement case against a head cashier of a prominent jewellery showroom, alleging he siphoned off cash and gold worth nearly Rs 2 crore over several months.
Complaint Reveals Massive Fraud
The Taluka Police in Rajkot city acted on a formal complaint filed by Manish Patel, the owner of Arjun Jewelers. Patel accused his former employee, Hitesh Parmar, a resident of Borsad in Anand district, of misappropriating funds and jewellery. Parmar had initially joined the showroom as a cashier in 2022 and was later promoted to the position of head cashier, which he held for over three years before his dismissal on August 5, 2025, due to misconduct.
How the Embezzlement Scheme Unfolded
The elaborate fraud came to light roughly a week after Parmar's termination. Several customers approached Arjun Jewelers claiming they had given cash directly to Parmar for purchasing gold jewellery between October 2024 and May 2025. Investigations revealed that Parmar allegedly issued vouchers in the name of "Arjun Jewelers Private Limited" to these customers.
However, a critical red flag emerged when multiple vouchers and bills presented by the customers did not match the official records in the showroom's computerised system. This discrepancy prompted the owner to approach the police.
Police Investigation and Estimated Loss
Officers have seized CCTV footage from the showroom premises as part of their probe. The investigation so far indicates that customers were cheated of approximately Rs 1.74 crore through various fraudulent transactions orchestrated by the accused.
In addition to the cash, the police have also identified the misappropriation of 265 grams of gold using fake vouchers and bills. Preliminary estimates by the investigators place the total value of the embezzlement at around Rs 1.9 crore for the period spanning from October 2024 to May 29, 2025.
The case highlights significant internal control failures and underscores the vulnerabilities businesses can face from trusted employees in positions of financial responsibility. The Rajkot police continue their investigation into the matter.
