Ujjain Businessman Duped of ₹1 Crore in Fake Gold Mortgage Scam, Police Arrest One

In a surprising and scary story from Ujjain (a city in Madhya Pradesh), a businessman who lives in Dubai was tricked into losing ₹1 crore because of a fake gold scam. This happened when someone promised to give him gold as a security for money. But instead of real gold, he received fake gold. Here’s what happened and how it unfolded.

It was a surprising story from the city of God Ujjain aka Mahakal nagri. A businessman who lives in Dubai was tricked by the people which led him into losing ₹1 crore because of a fake gold scam. This scene was happened because someone promised him to give gold in exchange for money. But it finds out to be a scam as it was Not real it was fake Gold. Let’s see how this thing come into the light.

Table of Contents

Who Is the Victim? The Businessman from Dubai

The person who was scammed is Qutubuddin (65 years old). He’s a businessman who works in Dubai, but he originally comes from Ujjain. He also has a house in Pune, a city in Maharashtra. Qutubuddin was in Ujjain visiting his family when he met a man named Hozefa.

How Did Qutubuddin Meet the Man Who Scammed Him?

Qutubuddin met Hozefa through a friend who lived in Pune. Hozefa rented a place in Pune and would often visit Qutubuddin at his home. Over time, Hozefa learned about Qutubuddin’s business and his financial situation. The scam started when Hozefa made a very clever plan to trick Qutubuddin.

The Fake Gold Scam: What Happened?

In October 2024, when Qutubuddin was in Ujjain, Hozefa came to his house with his wife, Tasneem. Hozefa showed Qutubuddin 1.1 kilograms of gold jewelry. The gold had a seal from a famous jeweler called Tawakkal Jewellers in Pune. Hozefa told Qutubuddin that he was expecting some goods from Kolkata, but he urgently needed ₹1 crore (that’s a huge amount of money!) to complete the deal.

To convince Qutubuddin, Hozefa told him:
“Keep this gold as security, and I’ll give you the gold back once my goods arrive. Please give me ₹1 crore in cash right away.”

How Did Qutubuddin Fall for the Trick?

Qutubuddin, trusting Hozefa, decided to help him. Hozefa seemed like a friendly person, and Qutubuddin thought the deal was safe. So, he arranged the huge sum of ₹1 crore within 4 to 5 days and handed the money over to Hozefa. In return, Hozefa gave Qutubuddin bank cheques to show that he would pay back the money later.

The Big Surprise: The Gold Was Fake!

Qutubuddin didn’t realize anything was wrong until later. After some time, he discovered that the gold he had been given wasn’t real! It was fake gold. That meant the ₹1 crore he had given to Hozefa was gone, and the so-called “security” he had received was worth nothing.

What Did Qutubuddin Do Next?

Feeling cheated and angry, Qutubuddin went to the Jiwajiganj police station in Ujjain to report the scam. The police acted quickly and arrested Hozefa. However, Tasneem, Hozefa’s wife, is still on the run and hasn’t been caught yet.

What Does This Scam Teach Us?

This scam is a big lesson for everyone. Here are some important points to remember:

1. Always Check the Gold Before You Agree to Anything

Before you accept or give away any gold, always make sure it is real gold. You can ask a jeweler to check it for you. Real gold has a distinct weight and shine, and it can be tested.

2. Never Give Away Large Amounts of Money Without Proper Documents

Qutubuddin was in a hurry to help his friend, but it’s important to never hand over huge amounts of money without proper proof or documentation. Always make sure you have everything in writing, including cheques or receipts.

3. Be Careful of People Who Ask for Money Urgently

If someone asks for money urgently or says they need it immediately, that’s often a sign of a scam. Scammers try to hurry you into making quick decisions so you don’t have time to think or check things properly.

4. Trust Your Instincts: If It Feels Too Good to Be True, It Probably Is

If something seems too good to be true, like a big promise of gold or money, it’s important to think twice. Trust your instincts and always ask for help from trusted friends, family, or professionals before making any big decisions.

What Is Happening Now?

The police are still investigating the scam. While Hozefa is in police custody, his wife, Tasneem, is still hiding and the police are looking for her.

Final Thoughts: Stay Safe and Stay Smart

This scam is a big reminder that we must be careful in business deals, especially when large amounts of money are involved. Fake gold scams like this one can happen to anyone, so it’s important to always do your research and never rush into big decisions.

Key Points to Remember:

Always verify the authenticity of any gold you’re given.
Don’t give away large amounts of money without proper documentation.
Be cautious when someone asks for urgent money or gives you too-good-to-be-true offers.
If something feels wrong, ask for help or take time to think it over.

Conclusion: How to Protect Yourself from Scams

This story of a businessman being tricked out of ₹1 crore is a powerful reminder of how important it is to stay informed and stay alert. Whether it’s gold, money, or any other kind of deal, always take the time to double-check everything. Scams can happen to anyone, but with the right knowledge, you can protect yourself from getting tricked.