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Hyderabad: Gang nabbed for duping gold finance firms

Rs 7.5 lakh taken as loan by pledging fake ornaments.

Hyderabad: A five-member gang, including three jewellers, from the Pot market in Secunderabad who cheated Muthoot and Manappuram gold finance firms by pledging gold coated jewellery claiming to be original gold jewellery, was nabbed by Rachakonda SOT sleuths on Thursday.

Police said the gang's kingpin Dawood had lured other members of the gang into the racket. Police arrested Masthan Sir Lodhger, Abdul Wajid, Mohammed Subhan, Saheeman Khan and P. Das Goud. Dawood is absconding.

LB Nagar ACP P. Venugopal Rao said that Dawood ran a jewellery polishing shop in Pot market. Subhan and Saheeman who had jewellery shops in Vanasthalipuram frequently used to visit Dawood for various things.

Dawood told them that he could make gold coated ornaments, and that it can be mortgaged. Later, the duo discussed their plan with Wajid and Das, who agreed to join the gang. Mastan, who owned a hardware shop in Pot market, also joined the gang to fabricate fake Aadhaar cards.

“Mastan downloaded the Aadhaar cards of strangers from the Internet, fixed their own photographs on it and using it, they pledged the ornaments made by Dawood, collected the money and shared it among themselves,” the ACP said.

Police found the gang initially targeted the Manappuram and Muthoot branches in Secunderabad, but after a case was registered at the Trimulgherry police station around a year ago, they switched to Rachakonda.

They pledged fake ornaments in 13 branches in Hayath Nagar, Vanasthalipuram, LB Nagar and Mailardev-pally police stations and secured Rs 7.5 lakh as loan. On Thursday, when Wajid came to mortgage a chain in LB Nagar, police nabbed him and he revealed details about the gang.

Police recovered Rs 1.9 lakh, six mobile phones, fake Aadhaar cards and jewellery from them.

( Source : Deccan Chronicle. )
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