Fake Gold Shakes Istanbul.. Jewelry Store Owner Disappears After Collecting Residents’ Money

Entertainment|02/10/25
Fake Gold Shakes Istanbul.. Jewelry Store Owner Disappears After Collecting Residents’ Money
Gold jewelry piece

The man lured his victims with flashy promises of high returns The jewelry displayed in the shop window was not real

The Bağcılar district of Istanbul witnessed a wave of public outrage after the owner of a jewelry store disappeared, having collected large sums of money from local residents under the pretense of investing in gold and generating high profits for them.

According to Turkish media, the man lured his victims with dazzling promises of lucrative returns before vanishing suddenly, leaving behind shuttered doors and broken locks, as dozens of people tried to break into his shop to recover their money.

The shocking twist came when residents discovered that the jewelry displayed in the store’s front window was fake—crafted solely to deceive customers into believing the scheme was genuine.

Testimonies from some victims revealed that the number of those affected exceeded one hundred; some had sold their property, others handed over their savings or gold jewelry, all in hopes of doubled profits—only to find themselves ensnared in a meticulously planned fraud.

The incident sparked widespread debate across Turkey, with growing calls for the police to swiftly arrest the fugitive shop owner and ensure that victims’ money is returned, after what has come to be known as the “illusion of gold” shattered their trust.