Five Men Impersonating ED Officials Rob Gold Traders of Rs 3 Crore Jewelry in Karnataka Heist

Further investigation is currently underway, according to officials. (Representational)

Karnataka:

While Bengaluru is still recovering from a bold heist where individuals disguised as RBI officials made off with over Rs 7 crore in cash, another significant robbery has now been reported from Hubballi. Five unknown men, pretending to be Enforcement Directorate (ED) officials, allegedly abducted two gold traders and escaped with jewelry valued at Rs 3.02 crore and Rs 2 lakh in cash.

According to the filed complaint, the victim regularly travels across districts as a gold ornament supplier, presenting gold samples to jewelry shops and taking orders. He and his employee, Vivek, were carrying approximately 3 kg of gold ornaments including chains, bracelets, rings, earrings, bangles, and lockets, with a total value exceeding Rs 3 crore.

The pair began their business journey from Mangaluru on November 15, 2025, traveling through multiple cities. On November 16, they met with local jewelers in Belagavi, followed by business visits to Gokak and Dharwad on November 17 to collect orders from shops. They subsequently arrived in Hubballi, staying at Renuka Lodge near Chennamma Circle, and continued meeting more jewelers on November 18.

The following day, they returned to Dharwad to gather additional orders when between 3:10 and 3:15 PM, five men intercepted them, identifying themselves in Hindi as ED officials, even displaying an ID card. They informed the traders they needed to conduct a "check" and forced both men into a gray Maruti Ertiga car that was waiting nearby.

Once inside the vehicle, the suspects accused the traders of smuggling, confiscated their mobile phones and SIM cards, took their purses, and grabbed the bag containing jewelry from Vivek.

When the complainant inquired about the location of the ED office, the gang reportedly slapped and threatened both individuals, demanding they remain silent. The car then sped toward Dharwad.

Near Kittur, around 4:10 PM, the gang released Vivek, claiming they would "call him later." They continued driving with the complainant toward Hubballi.

At approximately 4:30 PM near MK Hubballi, the suspects stopped the vehicle, pushed the complainant out of the car, and fled with jewelry worth Rs 3 crore along with Rs 2 lakh in cash.

Both victims later approached the police, who have registered a case and initiated an investigation to identify and locate the suspects.