The Borivali police have arrested a 39-year-old habitual conman from Ulwe for allegedly duping jewellers by selling or mortgaging high-quality, gold-coated fake jewellery stamped with forged hallmark symbols. The accused, identified as Rakesh Bhimsen Bagla, was apprehended following an investigation into a Rs 19.43 lakh fraud reported by a Borivli-based jeweller.

According to police sources, Bagla hails from Bathinda, Punjab, and had been living alone in various parts of Mumbai after leaving his parental home. Around four years ago, he married a woman from Assam, whose father is reportedly a jailer in Guwahati.

Last month, Bagla allegedly sold fake gold-coated jewellery bearing a forged hallmark to a Borivali jeweller for Rs 5 lakh. He then used the money to purchase real gold. The fraud came to light when the jeweller melted the ornaments and found them to be counterfeit. The total loss was later pegged at Rs 19.43 lakh.