Archive · 14 Jun 2025
Hyderabad Jeweler Accused of Rs 95 Lakh Investment Scam
A jeweler in Hyderabad tricked a man into investing in gold, promising big returns.
The man gave the jeweler about a million rupees.
But the jeweler never gave him any gold.
The jeweler told the man to send money to two different accounts.
Then, he made excuses and avoided the man.
The police looked into it and found the jeweler had closed his shop.
Now, the police are investigating this case as a scam.
The man is hoping to get his money back, but the jeweler has disappeared.
A Hyderabad jeweler, Vishal, allegedly defrauded an investor of Rs 95 lakh under the guise of a gold investment.
The victim, Mohammed Sadiq Ali, transferred funds to two different accounts following Vishal's instructions.
Vishal delayed delivery of the promised gold and became unreachable after receiving the funds.
The jeweller initially claimed to have delivered the gold to Vishal, but later denied any connection to the company that received funds.
A case has been registered against Vishal and others for cheating and breach of trust by the CCS.
- Who
- Vishal, a jeweler, allegedly defrauded Mohammed Sadiq Ali.
- What
- A jeweler allegedly duped an investor of Rs 95 lakh under the guise of investment.
- When
- The transactions occurred in late April.
- Where
- Hyderabad.
- Why
- The motive was to deceive the investor and steal their money.
- Suspect
- Vishal
- Victim
- Mohammed Sadiq Ali
- Location
- Hyderabad
- Amount Defrauded
- Rs 95 lakh
- Complaint Filed
- CCS police
- Charges
- Cheating and breach of trust