1 month ago
Hyderabad Arrests Gold Scam Fraudster Who Stole ₹2 Crore
A man named Kondapuram Laxmikanth Reddy was caught by police in Hyderabad.
He pretended to sell cheap gold from Dubai and Sri Lanka and tricked people into giving him money.
He showed fake videos of gold biscuits to make them trust him.
He stole about 2 crore rupees from several victims.
He has a history of other crimes, so the police treated this case as an organized crime.
He is now in jail while the investigation continues.
Kondapuram Laxmikanth Reddy arrested by Hyderabad Central Crime Station for defrauding victims of ₹2 crore by promising cheap gold from Dubai and Sri Lanka.
The fraudster used WhatsApp videos of packaged gold biscuits to gain trust and claimed ties with gold dealers in Mumbai.
He has a history of six prior criminal cases in Telangana and Andhra Pradesh, including kidnapping and financial fraud.
Rakesh Balaram Goud filed the complaint that led to the arrest, and the case was registered as FIR No. 147 of 2026.
The accused was booked under the Bharatiya Nyay Sanhita for organized crime and remanded to judicial custody.
- Who
- Kondapuram Laxmikanth Reddy, a fraudster
- What
- Arrested for defrauding victims of ₹2 crore by promising cheap gold
- Where
- Hyderabad, India
- When
- On Wednesday, 2026
- Why
- To deceive people with false promises of low‑cost gold and high returns
Key facts
- Accused
- Kondapuram Laxmikanth Reddy
- Arresting Agency
- Hyderabad Central Crime Station
- Amount Defrauded
- ₹2 crore
- Charges
- Organized crime under Bharatiya Nyay Sanhita
- Remand
- Judicial custody
Quotes
CCS Detective Department DCP Chaitanya Kumar
Detective officer in charge at Hyderabad Central Crime Station
“"A complaint was received from Rakesh Balaram Goud against Laxmikanth Reddy, and a case was registered in FIR No. 147 of 2026"”
deccanchronicle.com
“"The accused claimed to have contacts with gold dealers importing cheap gold from Dubai and Sri Lanka to Mumbai."”
thehansindia.com
Sources
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