A shocking Rs 65 lakh fake gold scam was uncovered by the Afzalgunj police after a Bhongir resident, Munukuntla Niranjan, was duped into buying rocks wrapped in a saree instead of the promised gold.
The victim, seeking a discounted rate on 1 kilogram of gold, was initially lured by Uday alias Reddy, who convinced him by selling 5 grams of genuine gold for Rs 25,000. This seemingly genuine transaction built trust and encouraged Niranjan to place a larger order.
On May 12, Niranjan met Reddy, along with accomplices Raghu and Jaya Kumar, near an auto stand in Putlibowli. He handed over Rs 65 lakh in cash for the gold. However, after the exchange, the accused fled the scene on two bikes without number plates.
Upon checking the bag, Niranjan was horrified to find sarees wrapped around rocks instead of the gold he had paid for.
Following an investigation, the Afzalgunj police arrested Jaya Kumar, a resident of Raichur district in Karnataka. Police also seized Rs 40 lakh in cash and a car from him. Two other accused, Uday alias Reddy and Sandeep alias Raghu, are currently absconding.
Deputy Commissioner of Police (East Zone) B Balaswamy stated that the scam was a well-orchestrated con involving multiple individuals from Karnataka.
