Gold bricks at half price in Odisha? Mafia dupes gullible buyers

A massive scam involving fake gold bricks has come to light in Odisha’s Balasore district, where unsuspecting individuals are being lured by a rumour that gold is being found and sold at half the price from the so-called Swarnachuda Hill in the district.

Also Read: Fake gold brick scam busted in Odisha: Rs 16 Lakh fraud unearthed

The racket has duped people of lakhs of rupees, with conmen targeting victims from far and wide through local middlemen.

Acting on false promises, targeted persons are told that gold is being extracted directly from the hills and handed over instantly. Believing this, people travel long distances hoping to buy gold at ‘throwaway prices’. But instead of getting gold, they fall prey to fraud and return home cheated and devastated.

One such case involves a man named Krushna Nayak from Baidyanathpur of Ganjam district, who came to Nilagiri to buy these so-called ‘gold bricks’. He lost a staggering Rs 16 lakh and ended up filing a police complaint after realising he had been duped.

Police from Berhampur and Nilagiri launched a joint investigation, arresting five people and seizing Rs 3.79 lakh in cash, two motorcycles, and four mobile phones. Locals claim the conmen are coating brass bricks to make them look like gold and using old rumours about archaeological surveys to fuel the scam.

Legal experts and residents have demanded strict action against the gold mafia operating under the pretence of hill-based gold mining. Nilagiri SDPO confirmed the racket and urged the public not to fall for rumours or easy-profit schemes.

This incident echoes earlier scams like the ‘Hanuman Coin’ and fake idol rackets. Authorities believe agents across Odisha and beyond are being used to expand the network of apparent deception.

“I had a personal loan of around Rs 5 lakh, and to repay the borrowed money I came here (to Nilagiri), but was cheated. A man named Alaya from Ganjam had introduced me to Muna from Bhubaneswar and Rinku from Cuttack. Along with an elderly man, they duped me on the pretext of providing a gold brick at half price,” victim Krushna Nayak stated.