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Gold Fraudster Dupes Jeweler of 1 Crore
28 Feb
Summary
- A fraudster posed as an associate of a woman entrepreneur.
- Approximately 750 grams of gold worth 1 crore was misappropriated.
- The accused, Srinath Rathi, is currently absconding from police.
A shocking fraud case has emerged in Hyderabad, where a jewelry store owner lost about 750 grams of gold, estimated to be worth 1 crore. The incident unfolded after the owner received a WhatsApp call on February 17 from Srinath Rathi, who claimed to be associated with a prominent woman entrepreneur. Rathi proposed a business partnership, promising jewelry in exchange for cash and gold.
Over the following week, Rathi, with the help of his associates Krishna and Manoj, orchestrated several transactions. Gold items weighing hundreds of grams were handed over at various locations, including star hotels and the victim's shop, with security provided through blank cheques and small cash deposits. The elaborate scam unraveled on February 25 when a large gold bar Rathi delivered was found to be brass.
The victim filed a complaint with the Banjara Hills police on February 26 after Rathi became unreachable and his residence was found locked. Police have registered a case against Srinath Rathi, Krishna, Manoj, and others for criminal breach of trust and cheating. An intensive manhunt is currently underway to apprehend the absconding accused.
