Hyderabad Man Charged in US Gold Fraud Case
Investigators said the victim was tricked into believing her savings were at risk and handed over gold in multiple transactions to men posing as FBI agents.
Hyderabad:The Clay County prosecutor’s office in Missouri has filed charges against Hyderabad-based Sai Praveen Kommana for posing as a CIA agent and stealing $97,240 worth of gold from a victim. He has been charged with financial exploitation of the elderly, an A-level felony carrying a sentence of 10 to 30 years.
Chagamreddy Venkateswara Reddy
Krishna Bharanue Daggubati
Sai Krishna
Sai Praveen, 29, from Frisco, Texas, and Krishna Bharanue Daggubati, 27, from Georgia, were arrested in September 2025 by Sedgwick County sheriff’s deputies for defrauding an 84-year-old woman of more than $255,000 in a social security scam. Investigators said the victim was tricked into believing her savings were at risk and handed over gold in multiple transactions to men posing as FBI agents.
Detectives intercepted a fourth attempted transaction and arrested the duo. While Krishna Daggubati later pleaded guilty, Sai Praveen pleaded not guilty and secured bail. The FBI believes the gold was transferred to overseas accounts and that the ringleader of the scam is outside the US.
In December 2025, a federal grand jury in Wichita indicted Sai Praveen along with Chagamreddy Venkateswara Reddy for conspiring to defraud a victim by posing as FBI agents. Prosecutors said they convinced the victim to purchase gold worth $255,287 and hand it over, falsely claiming it was for safekeeping by the government.
On March 21, Missouri prosecutors confirmed charges against Sai Praveen, setting his bond at $200,000. Local media reported that while he is linked to a wider wire fraud case, he is not believed to be the main perpetrator.