Diversion gang cons realtor in fake gold deal; kingpin held in Afzalgunj, Rs 40 lakh seized

Hyderabad: The Afzalgunj police have arrested the kingpin of an interstate attention diversion gang and recovered Rs 40 lakh in cash. The gang duped a real estate businessman in a fake gold deal by promising gold at half the market price.

Victim cheated in a fake gold deal

The complainant, Munukuntla Niranjan, a 46-year-old real estate businessman from Bharat Nagar Colony, Yadadri-Bhuvanagiri district, reported that he was lured into a gold purchase deal in March.

A person named ‘Reddy’ contacted him, offering original gold at discounted rates. Niranjan and his associate Dharmender met the suspects at Pedda Amberpet and agreed to the deal.

Rs 65 lakh swapped witha bag of stones

On May 12, the complainant was instructed to bring Rs 65 lakh in cash to Dilsukhnagar. The suspects then diverted him to Putlibowli in Afzalgunj. There, a suspect handed over a bag claiming it contained gold.

The suspects then fled on unregistered bikes. Upon inspection, the bag was found to contain sarees and stones instead of gold.

Police launch technical investigation

With little to go on initially, Afzalgunj police formed a special team and began tracking the culprits using CCTV footage, technical surveillance and field-level intelligence. The team identified three suspects, all from Raichur district in Karnataka.

Modus operandi: Lure, divert, vanish

On June 22, the main accused, Jaya Kumar (50), was arrested near CBS in Hyderabad. Police recovered Rs 40 lakh in cash and seized a Hyundai Creta (KA 33 M 6426) used in the crime. Two other suspects, Uday alias Reddy (35) and Sandeep alias Raghu (24), remain absconding.

The gang’s strategy involved gaining the trust of victims with fake gold deals, luring them with massive discounts, and then fleeing with the cash during staged exchanges.