Gang cheating people with fake gold busted

Tirupati: The Central Crime Station (CCS) cops on Friday evening arrested 3-member gang of cheating people in the name of providing gold coins of Tipu Sultan era for lower price than the market value. 

The CCS sleuths seized Rs 10 lakh cash and 2 grams of original gold from the accused. 

The accused were identified as K Krishna Reddy, Venkatasiva Reddy and Lakshmana Reddy. 
They were presented before the media on Saturday.  

CCS DSP Ravisankar Reddy said Circle Inspector (Crime) T Abbanna saw them moving suspiciously at Balaji Colony Circle here. 

The CI took them into custody and grilled them. 

The DSP stated they had confessed to crime of cheating people. Krishna Reddy, who suffered losses in agriculture, had formed a gang with other two to earn easy money by deceiving people. 

The DSP explained the modus operandi of gang was to establish close relations with the innocent people. 

Later, they reveal the information to them of supplying gold coins of Tipu Sultan period for low price. 

The DSP stated gang will inform the victims that they found gold coins during the excavation of farm land belonging to their relative in Ramasamudram mandal in Chittoor district. 

To make them believe, the accused would show the victims two original gold coins. 

Later, they will assure the victims of arranging 1 kg gold coins for Rs 10 lakh when the market price is much higher. 

The greedy victims will fall prey to them as they will be getting more gold for lower price. 

The gang used to flee from the spot after collecting money from them.  

In 2016, the gang cheated Janakiram, a Tirupati resident, by collecting Rs 11 lakh from him. 

The accused were sent to judicial remand on Saturday.