Was Promised Gold Trading Profit Just a 25 Lakh Scam in Sangli?

Sangli resident Pradeep Chavan was defrauded of 25.35 lakh in a gold trading scam by Nikhil Sharma. Police registered a case, and the investigation is ongoing.

Sangli|October 10, 2025: Sangli police are investigating a significant financial fraud in the Vishrambag area, where resident Pradeep Ganpatrao Chavan reportedly lost 25.35 lakh in a gold trading scam.

According to reports, Nikhil Sharma approached Chavan claiming to be an expert in gold trading and promising high returns. Trusting Sharma’s claims, Chavan invested a substantial sum.

However, within a few days, Sharma stopped providing updates, and communications ceased. Chavan soon realized that he had been defrauded. Feeling deceived, he approached the local police and filed a formal complaint.

Sangli police have registered a case against Sharma and initiated a detailed investigation. Authorities are working to trace the accused and recover the defrauded amount.

This case highlights the growing risk of fraudulent investment schemes in online gold trading. Experts advise investors to verify credentials and exercise caution before committing large sums to unverified platforms or individuals.

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