SCAM
Crime News. A fraud of crores committed by a gold trader in Armur area of Nirmal district of Telangana has created a stir in the entire city. On the occasion of auspicious festivals like Akshaya Tritiya, an advance amount of about Rs 10 crore was extorted from people by luring them with gold at a low price. As soon as his shop did not open as usual on Wednesday morning and he could not be contacted, people became suspicious.
According to sources, the businessman had recently advertised that he was offering gold at a price much lower than the market price. When the price of gold reached Rs 250 per barrel and the rate was expected to reach Rs 1 lakh per tola, people paid huge advance amounts. Many customers were government employees, real estate developers and business class, who dreamed of investing in gold.
It is being told that the businessman was taking money from customers in a planned manner for the past one month. Initially everything seemed normal, but when people went to his house after finding his mobile suddenly switched off and the shop closed, they did not get any satisfactory answer from there either.
When some people reached the businessman's residence directly, it was found that his father has been admitted to a private hospital due to a health emergency. However, some people are considering this as an "excuse" to avoid action. Other family members are also not giving clear answers.
The local police have received dozens of complaints in this case so far. A local jeweler informed that the accused businessman was earlier active in the business of ornamental stones and had started the wholesale gold business only a few months ago. The police say that there are clear signs of fraud in the initial investigation and the arrest of the accused is possible soon.
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