A major alleged fraud has rocked Surat's bustling jewellery trade, with a 69-year-old established jeweller filing a police complaint after reportedly being cheated of gold worth a staggering Rs 5.03 crore. The incident, which came to light this week, involves a significant quantity of precious metal entrusted for job work.
Details of the Alleged Gold Scam
The complainant, identified as Magan Vaviya, a jeweller operating from Varachha, approached the Ashwinikumar police station on Tuesday with his grievance. Vaviya, who owns two showrooms named Amar Swarna Mandir and Amar Jewellers in Mini Bazar, had a business relationship with the accused for about three years.
According to the complaint, Vaviya had been giving gold to Nitin Pansuriya and Manish Pansuriya, the proprietors of a firm called Heer Gold, for making ornaments. This arrangement took a sinister turn over a five-month period between May and October 2025.
Massive Quantity of Gold Goes Missing
During those crucial months, Vaviya supplied a total of 8,500 grams of gold to the accused for job work. The accused returned only 4,478 grams in the form of finished ornaments. This left a massive 4,022 grams of gold, valued at approximately Rs 5.03 crore, completely unaccounted for.
The situation reached a head on November 1, 2025, when Nitin Pansuriya reportedly met Vaviya. During this meeting, Nitin promised to return the remaining gold at a later date. However, this assurance raised Vaviya's suspicions.
Shop Shut Down, Accused Untraceable
Acting on his doubts, Vaviya sent a staff member to check on the accused's business premises. The employee discovered that Heer Gold's shop had been closed down, reportedly due to bankruptcy. This discovery confirmed Vaviya's worst fears.
Subsequent attempts to locate Nitin and Manish Pansuriya proved futile. The jeweller and his team tried to contact them at their known residence and via phone, but all attempts failed. The accused duo appeared to have vanished, leaving behind the unresolved debt of precious metal.
Police Investigation Underway
Following the formal complaint, the police have initiated an investigation into this high-value cheating case. The Eco Cell police have assigned Inspector GM Hadiya to lead the probe. Authorities will now examine the details of the business transactions and pursue leads to locate the accused.
This case has sent shockwaves through Surat's close-knit jewellery community in Varachha, highlighting the risks inherent in trade-based trust and job work agreements. The investigation continues as police work to unravel the full extent of the alleged fraud.
