Hyderabad: A three-member gang allegedly cheated a businessman named T. Venkat Reddy by promising him ‘Switzerland gold’ at cheaper prices. During the transaction, the trio stole Rs 30 lakh from the businessman after diverting his attention. Police said they had also cheated many by giving fake notes. The cops busted the gang by arresting three of them including a realtor.
The arrested men are Vanamula Tirupataiah, 56, a realtor from Saraswathinagar in Kurnool, Veera Venkata Satyanarayana, 38, from YSR Colony, Narsapuram, West Godavari, Natina Srinu, 25, from Amalapuram in East Godavari. The victim, 45-year-old T. Venkat Reddy from Pamulapadu mandal of Kurnool district said that Venkat Satyanarayana had offered to sell him gold in low price several times.
"A month back he again met the victim and showed some original gold and offered to sell 1.5 kg gold at less than market rates. On June 23 the victim brought Rs 30 lakh in a bag to Hyderabad, and met the accused at the Bhavani Lodge in Malakpet. The accused then called another person to count the money. He told him they wanted to ensure that they are not fake notes. While counting, they diverted his attention and replaced the money with black paper, and gave the bag back. They left the place telling him that they would get the gold and come back soon," said East Zone DCP Shahnawaz Qasim.
After the fraudsters fled the victim realised that there were only paper pieces in his bag instead of money. Police said the trio were involved in similar cases in the past, and had been booked by different police stations.
