Police begin probe into alleged investment fraud in Kozhikode

Customers reportedly cheated by jewellery shop owners

Investigation is on into a suspected gold investment fraud in which several rural investors were allegedly duped by partners of a jewellery outlet at Kallachi in Nadapuram. The incident came to light when local people who had made advance payment under a special gold scheme approached the police claiming that the shop owners had gone back on their promise. According to the complainants, there were even large-scale investors who had invested gold for financial returns. Even small-scale investors had exchanged gold with the shop, they said.