On Nov 9, mid-day broke the story about gold fraud

The Income Tax (I-T) department yesterday raided three jewellery stores and bullion traders in Zaveri Bazaar and Kalbadevi following a tip-off that they were allegedly selling gold in exchange for the scrapped Rs 500 and Rs 1,000 currency notes. The gold was sold at inflated rates and officials estimate that the illegal transactions are valued over Rs 80 crore.