Hyderabad: Rachakonda SOT and Medipally police on Tuesday arrested four people for cheating businessmen on pretext of supplying gold at cheaper prices.
The police seized three cards, Rs 51 lakh in cash, five kilograms of fake gold and dummy Indian currency bundles from the gang.
The accused have been identified as K Vijay Kumar alias Krishna Mohan, 30, a resident of Kavali in Nellore district of Andhra Pradesh; his associates, N Devid alias Senthil, 52, a resident of Guntur; B Sunil Ghavasker alias Harish, 27, a resident of Nellore; and Om Sai Kiritee, 26, a resident of Nellore.
Tarun Joshi, Rachakonda commissioner of police, said, in early June, the gang contacted Dileep Barfa, a businessman from Hyderabad through his friend Singireddy Suresh. The gang members promised to provide gold at a cheaper price compared to prevailing market rates. To gain the confidence of Dileep, the gang members took Rs 6 lakh from him and gave him 81 gram gold. After two days, the gang members Vijay and Harish came to Hyderabad and gave another 20 grams of gold to Barfa.
“Lured by the huge profits, Dileep paid Rs 20 lakh to the gang and placed an order for 5 kilograms of gold. He went to Bengaluru to take delivery of the gold and gave them gang members remaining Rs 90 lakh. He was taken to Chennai from Bengaluru when the stocks were finished. From Chennai, he was sent back to Hyderabad asking to collect the gold from Banjara Hills. When he came to the city and tried to contact Vijay and Harish, their phones were switched off and he realised that he had been duped,” said Tarun Joshi.
Vijay Kumar is involved in 13 cases while Namboori in two cases all registered in Kavali-II police station.
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