Hyderabad: Mahabubnagar police on Sunday arrested four chain-snatchers. Cops seized nearly 16 tolas of gold worth around Rs 4 lakh mortgaged by them at Muthoot finance’s ECIL branch, and three bikes were also recovered from the gang’s possession.
Accused Akber, Raghu, Shiva Kumar and Ashok were arrested during a vehicle checking in Kothakota town. The four are natives of Mahabubnagar district. Ashok worked as a painter in ECIL at Hyderabad while the other three were daily wage workers in Mahabubnagar area.
Akber, Shiva and Raghu teamed up and committed snatchings in Kothakota, Wanaparthy and Shadnagar areas, while Ashok mortgaged the stolen property at Muthoot finance’s ECIL branch using his Aadhaar card.
The four spent the money they got on leading a lavish life. Kothakota inspector B. Kishan said the gang was at it for the past nine months and committed two snatchings each in Wanaparthy and Kothakota and one in Shadnagar. The four have been sent to judicial remand.
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