Hyderabad: Attapur Police have registered a Gold Man fraud case against Surya Bhai, popularly known as “Gold Man”, following allegations of cheating and criminal intimidation made by a city businessman. Police have launched an investigation into the complaint.
According to the complainant, Surya Bhai allegedly promised to supply gold at prices well below the market rate. He reportedly claimed access to a shipment containing several kilograms of gold and offered to sell one kilogram for ₹50 lakh.
Believing the claims, the businessman allegedly paid ₹32 lakh in instalments.
Gold Man fraud complaint alleges intimidation
The complainant alleged that Surya Bhai failed to deliver the promised gold for several months. When the businessman sought clarification, the accused allegedly threatened him instead of returning the money.
The complaint also alleged that Surya Bhai falsely claimed to have close links with the Telangana Chief Minister and senior police officials, including former Cyberabad Police Commissioner V.C. Sajjanar, to avoid repaying the amount.
Gold Man fraud under investigation
Suspecting that he had been cheated, the businessman approached Attapur Police and lodged a complaint.
Police subsequently registered a criminal case and began a detailed investigation into the allegations. Authorities have not announced any arrests in the case so far.