A shocking case of "high-tech" fraud has left the business community in Ashta, Madhya Pradesh, in a state of alarm.

Two unidentified men targeted Giriraj Soni, the owner of Giriraj Jewellers in the Budhwara area, through a long-term plan.

For three months, the duo visited the shop, building a relationship by pawning genuine gold coins and settling transactions on time.

Once the jeweler's trust was secured, the fraudsters executed their plan on Saturday, June 13, 2026.

They offered 23 fake coins as collateral, receiving ₹20 lakh in cash and purchasing an additional ₹6.40 lakh worth of gold and silver jewelry.

It was only after they fled that the jeweler realized the coins were counterfeit. P

olice have confirmed that the identity documents and mobile numbers provided by the suspects were forged.

Ashta police, under the guidance of officials like Girish Dubey, are currently reviewing CCTV footage and have launched a massive manhunt for the accused.

Stay alert, fellow traders! Have you ever encountered such sophisticated fraud?