Hyderabad: Police arrested four members of a gang in a hidden treasure fraud case after they allegedly cheated 11 people of about Rs 1 crore. The accused allegedly convinced victims that treasure lay buried beneath their houses and collected money for rituals.
Police identified the accused as Mohammed Munawwar, 36, Syed Ali Ashraf, 40, Mohammed Haji, 25, and Mohammed Salman, 29. Investigators identified Munawwar as the main accused. He worked as a car mechanic and painter before allegedly devising the fraud with his friends.
Hidden treasure fraud involved fake gold coins
According to police, the accused approached victims with claims that hidden treasure existed beneath their houses. They then dug pits and secretly placed coal and counterfeit gold coins inside.
The gang allegedly convinced victims that specific rituals could transform the buried coal into gold. Subsequently, they collected money from victims on the pretext of conducting the rituals. Police found that the accused had allegedly targeted 11 people through the scheme. Investigators estimated that the gang collected around Rs 1 crore from the victims.
According to police, Munawwar planned the scheme because he was dissatisfied with his limited earnings as a mechanic and painter. He then allegedly joined his friends to make money by deceiving people with claims about hidden treasure.
Hidden treasure fraud gang arrested after tip-off
Police received information about the activities of the four-member gang. Subsequently, they planned an operation and arrested all four accused.
During the operation, police seized two cars, four mobile phones and an autorickshaw from the accused. They also recovered two motorcycles, 25 counterfeit gold coins and materials allegedly used for rituals.
The seized fake coins and ritual materials allegedly formed part of the method used to convince victims about the existence of hidden treasure. Police said the gang had collected money by persuading victims that rituals could turn coal into gold. The arrests followed information received about the group’s alleged activities.