LAHORE: Lahore police have arrested the key accused in a high-profile fraud case involving the disappearance of approximately 20 kg of gold, worth around Rs 68 crore, from the bustling Ichhra Jewellery Market. The breakthrough came through an intelligence-based operation hinged on mobile location tracking, culminating in the arrest of Sheikh Waseem Akhtar from Islamabad.
The accused, identified as a former president of the local Jewelers Association, allegedly defrauded multiple traders before absconding with the gold, triggering panic among shopkeepers at Latif Center, a major hub for gold trade. Seven cases were registered following complaints, with around 25 applications being processed by authorities.
Investigation officials revealed that the arrest was made possible by persistent digital forensic efforts. The accused frequently kept his phone switched off to evade detection. However, a critical lead emerged when he sold his used mobile device in the market. The buyer, an Islamabad resident, inserted his SIM card and made a call, allowing police to trace the location. After briefly detaining the citizen, who provided a purchase receipt, police tracked the sale to a mobile shop. Investigations revealed the accused had sold two phones and purchased two new devices.
By tracing the EMI numbers of the new phones, police identified the numbers being used by the accused, which were registered under another individual’s name. Using this information, authorities located and arrested Sheikh Waseem Akhtar.
The case had gained significant attention after a viral social media video showed a man carrying a shopper, allegedly containing the stolen gold. Police have transferred the accused to Lahore for further interrogation, focusing on recovering the gold and identifying any accomplices.
“The arrest is a result of meticulous technical surveillance and coordinated efforts,” a police official stated. “We are now investigating the network involved and are hopeful for recoveries.”
The arrest has brought some relief to Ichhra market traders, as police continue their investigation into one of the largest gold fraud cases in recent memory.
