Pawnshop proprietor who fled with clients gold jewelry nabbed

A pawnshop proprietor, who had gone lacking with 328 grams of gold jewelry pledged by clients in Koyambedu, has been arrested.

According to police, Jayachandran, 52, a personal firm worker residing in Azhwarthirunagar, had pledged jewelry at a long-established pawnshop on Anna Salai, Periyar Nagar, and Azhwarthirunagar.

Between May and July, he pledged two gold chains and two gold rings, weighing round 46 grams in whole, and acquired ₹95,000 as a mortgage.

When Jayachandran went to the store on August 14 to redeem his pledged jewelry, he discovered it closed. Attempts to contact the store proprietor, Sunil, on his cell phone failed because the quantity was switched off. Jayachandran subsequently lodged a criticism on the Koyambedu Police Station (Crime Wing), following which the police registered a case and launched an investigation.

Police arrested Sunil, 25, who had been working the pawnshop after his father’s demise. Investigation revealed that Sunil had absconded with round 328 grams of gold jewelry pledged by a number of clients, together with Jayachandran.

Sources stated he had re-pledged the jewelry that he had collected from clients at one other pawnshop and offered a few of it. When clients started approaching him to redeem their jewelry, he panicked and fled to Rajasthan, the police stated.