Ulhasnagar Gold Fraud: Valecha Family Accused of Cheating Jeweller of 1.25 KG Gold
• Laxmi Gold Ulhasnagar Scam: FIR Filed for 1247 Grams Gold Cheating & Criminal Intimidation
• Jeweller Cheated by Relatives in Ulhasnagar: Hareshalal Valecha and Sons Face Fraud Charges
• Ulhasnagar’s Laxmi Gold Owners Arrested
A major gold fraud case has surfaced in Ulhasnagar involving the Valecha family, owners of Laxmi Gold. Jeweller Mahesh Lokumal Pahuja lodged a complaint accusing his relatives — Hareshalal Tekchand Valecha, Hemant Hareshalal Valecha, and Pradeep Hareshalal Valecha — of cheating him of 1247.27 grams (approximately 1.25 kg) of 24-carat gold. Between November 2022 and March 2025, the accused allegedly took gold jewellery orders from Pahuja but failed to return the gold used to fulfill them. The FIR also includes charges of criminal intimidation after the complainant reported receiving threats when he demanded repayment. Police have initiated investigations into the multi-lakh fraud involving trusted family business associates.
- Ulhasnagar Gold Fraud: Valecha Family Accused of Cheating Jeweller of 1.25 KG Gold
- • Laxmi Gold Ulhasnagar Scam: FIR Filed for 1247 Grams Gold Cheating & Criminal Intimidation
- • Jeweller Cheated by Relatives in Ulhasnagar: Hareshalal Valecha and Sons Face Fraud Charges
- • Ulhasnagar’s Laxmi Gold Owners Arrested
- The Unanswered Question: Where is the Gold?
- Ulhasnagar Gold Fraud: Kin Accused of Cheating Artisan of 1.2 KG Gold in Order Scam
- Family Ties and a Trail of Gold Orders
- The Unsettled Debt and Suicidal Threats
- Acknowledgment of Debt and Subsequent Intimidation
- Police Investigation and Wider Fraud Allegations
- The accused have been taken into custody.
- The Trust Betrayal: A Valecha Duplicity
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View Fir Copy: – Mahesh Pahuja FIR
The Unanswered Question: Where is the Gold?
The biggest question is why police haven’t recovered the 1.25 kg of gold. The accused had ample time to liquidate the assets. This failure points to a strong nexus, potentially involving local pawnbrokers and gold merchants, who may have facilitated the rapid disposal of the stolen jewellery, shielding the proceeds.
Ulhasnagar Gold Fraud: Kin Accused of Cheating Artisan of 1.2 KG Gold in Order Scam
A major gold fraud case has emerged from Ulhasnagar, Thane, where a jeweller alleges his relatives cheated him of over 1.2 kilograms of gold. The accused, owners of Laxmi Gold, are now facing a formal police investigation.
Family Ties and a Trail of Gold Orders
The complainant, Mahesh Lokumal Pahuja, a 60-year-old jewellery artisan, stated his relatives began placing orders in November 2022. The accused allegedly provided 24-carat gold for crafting specific jewellery pieces. Pahuja used his family’s personal gold to fulfill these large orders.
He trusted the accused due to their close familial relationship. The business was conducted via a dedicated WhatsApp group. Orders, deliveries, and communications were consistently managed through the messaging platform.
The Unsettled Debt and Suicidal Threats
By December 31, 2023, a formal accounting revealed a staggering debt. The accused owed Pahuja 204.346 grams of 24-carat gold. They continued placing new orders but supplied less gold in return, increasing the deficit.
The situation escalated dramatically in early 2025. Pahuja alleged that Hemant Valecha took jewellery without consent and sold it. When confronted, Hemant sent a threatening WhatsApp message. He threatened suicide and warned of filing a false police complaint against the victim.
Also Read: FSSAI Bans Use of ‘ORS’ Term on Food Products in Nationwide Crackdown.
Acknowledgment of Debt and Subsequent Intimidation
On February 28, 2025, the accused formally acknowledged the massive debt. They signed a receipt for 1358.69 grams of 22-carat gold. This is equivalent to 1247.27 grams of 24-carat gold, valued at over ₹75 lakh.
When Pahuja visited their shop to collect the gold, the accused allegedly fled. Later, Hemant Valecha posted CCTV images of the visit on WhatsApp. He again threatened to file a false police complaint to have the victim jailed.
Police Investigation and Wider Fraud Allegations
A First Information Report (FIR No. 900/2025) has been registered at the Ulhasnagar police station. The case alleges criminal breach of trust, cheating, and criminal intimidation.
The accused have been taken into custody.
Prior to his arrest, Hareshalal Tekchand Valecha served as an official gold valuer for several banks in Ulhasnagar, a role that lent him credibility in the community.
The Trust Betrayal: A Valecha Duplicity
A Sprouts News investigation reveals that Hareshalal Tekchand Valecha, now arrested for a major gold fraud, was a trusted valuer for several banks in Ulhasnagar. This official position granted him a veil of legitimacy, which he allegedly exploited to orchestrate the cheating scheme.
The investigation suggests the accused may have cheated at least 15 other people similarly. A meeting was held at Laxmi Gold where the owners promised to return everyone’s gold. This promise was never fulfilled, leading to the collective legal action.
The Ulhasnagar police are continuing their investigation into the broader gold fraud scam.
