A brazen con operation has been dismantled after two Raipur businessmen lost ₹2 crore to a fake Tanzanian gold mine deal. The perpetrator, Yash Rajesh Shah, was dramatically arrested at Mumbai airport en route to Vietnam, thanks to swift police action.
The scam unfolded when Samarth Bardia met Shah online in 2024. Shah claimed ownership of a rich gold deposit in Tanzania and lured Samarth with a 50% equity offer. Samarth invested ₹1.9 crore, introducing Mukul Chopra to the deal during Shah’s Raipur visit in March.
Detailed briefings and a joint trip to Tanzania convinced the pair of legitimacy. They handed over the money post-inspection, but Shah’s demeanor shifted abruptly. He became unreachable, and scrutiny exposed the mine and documents as complete fabrications.
The victims reported the fraud to Raipur’s Civil Lines station on January 22. Investigators pieced together Shah’s movements, learning of his Mumbai hideout and impending departure. A coordinated effort ensured his capture, averting his international getaway.
As Shah faces charges, Raipur police warn of rising investment scams targeting ambitious traders. This case highlights the perils of hasty decisions in high-reward schemes, urging due diligence and official verification to safeguard against such predators.