Major gold fraud case: Jewellers Market’s delegation visits LCCI

LAHORE: A delegation of the Jewellers Market, led by Abid Mian, visited the Lahore Chamber of Commerce and Industry (LCCI) and met with LCCI President Faheem Ur Rehman Saigol. Senior Vice President of LCCI Tanveer Ahmed Sheikh was also present. Other members of the delegation included Usman Rasheed Bhatti, Ahmed Siddiq, Zafar Saeed, Usman Butt and Azam Khan.

During the meeting, the delegation expressed serious concerns over a major gold fraud case that recently took place in Lahore’s jewellers market. They said that nearly fifteen days have passed since the incident, but the affected traders have not been informed about any concrete progress or recovery.

The delegation informed that the accused escaped with around 20 kilograms of gold under a well-planned scheme, causing severe financial losses and mental stress to dozens of shopkeepers and their families. They added that most of the affected traders’ claims are fully documented, verified and confirmed by the jewellers’ union, while FIRs registered at police stations are also based on facts.

They said the most alarming aspect is that it is still unclear whether the accused is present in the country or has fled abroad. Despite the availability of modern technology, CCTV footage, call data records and other evidence, the investigation is moving very slowly. The delegation pointed out that important aspects, such as the transfer of goods from the accused’s house at night, vehicle movement and statements of employees, have not been properly investigated.

The jewellers demanded that the case be handed over to a specialized unit of Punjab Police, such as the CCD, or to a strong investigation team to ensure transparent, fast and result-oriented investigations. They also demanded that an official report on the progress made so far be issued to restore the confidence of the affected traders.

Saigol assured the delegation that the LCCI stands with traders for the protection of their legitimate rights. He said this is not just a loss of a few individuals, but an issue of the economy, trust and the overall business environment, which affects the entire market system.

He said that, on the request of the affected jewellers, the LCCI will formally approach relevant government departments, police authorities and other forums. The issue will also be highlighted in the media, and if required, a press conference will be held to put pressure on the concerned authorities to speed up the investigation.

Senior Vice President Tanveer Ahmed Sheikh said that protecting traders’ confidence is the responsibility of the state, and timely and transparent investigations are essential not only for justice but also for the continuity of business activities.

The delegation appreciated the role of the LCCI and expressed hope that with its intervention, the investigation will be expedited, the accused will be arrested, the stolen gold and money will be recovered, and trust in the market will be restored.

Copyright Business Recorder, 2025