LAHORE — Police have recovered gold worth over Rs150 million from a jeweller involved in a high-profile fraud case in Lahore’s Ichhra jewellery market, officials said on Monday.
DIG Investigation Syed Zeeshan Reza told media that suspect Waseem Akhtar Sheikh, who was arrested in Islamabad a few weeks ago, had allegedly fled with the gold belonging to other traders in the market. Sheikh was booked in multiple FIRs filed by the victims, along with his stepmother.
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“The investigation has almost solved the mystery of fraud involving gold worth hundreds of millions of rupees in Ichhra Sarafa Market,” the DIG said, adding that police had recovered 1,734 grams of gold from the accused. Cash of over Rs30 million and several vehicles were also seized during the operation.
According to officials, Sheikh sold his house and family vehicles before committing the pre-planned crime and had gone underground in Islamabad after taking the gold. Police teams worked immediately after registration of the FIR to ensure the suspect could not flee abroad.
The DIG said that the investigation combined modern technology and human intelligence to maximise recovery. “During the course of the investigation, we ensured the suspect was arrested as soon as possible,” he said.
So far, around 20 cases have been registered against Sheikh at the respective police station in connection with the fraud, Reza added.
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Authorities said the case has sent a strong message to criminals operating in commercial markets and that efforts are ongoing to ensure that all stolen property is returned to the affected traders.