Bhubaneswar, Jul 23: In a major breakthrough, the Special Crime Unit of the Commissionerate Police has arrested a high-profile conman, Ramesh Majhi, for allegedly defrauding people of over ₹18 crore through a fake gold auction scheme.

According to police sources, Ramesh posed as a facilitator for bank auctions of seized gold assets. He lured victims by claiming he could procure gold at discounted rates through official auction channels and then sell it for profit. Several individuals fell prey to his scheme, investing crores of rupees in hopes of high returns.

The scam came to light after multiple complaints were filed against Ramesh, prompting an investigation by the Special Crime Unit. During the probe, it was revealed that Ramesh had collected large sums from unsuspecting investors under the pretext of participating in bank-led gold auctions. However, instead of delivering the promised returns or gold, he disappeared with the money.

Police arrested Ramesh and produced him before the court. Plans are underway to bring him under remand for further interrogation to uncover the full extent of the fraud and identify other potential victims and accomplices.

Officials stated that the total amount defrauded may exceed ₹18 crore, and more victims are expected to come forward as the investigation progresses. The case has sent shockwaves across the city, especially among business circles and investors.

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