World · South & Central Asia · 1 day ago
Goldsmith alleges ₹1.3 crore fraud over promised hidden-treasure gold coins
A 40-year-old goldsmith has accused a man identified as Bhootha Lingaiah of cheating him of ₹1.3 crore.
The goldsmith says Lingaiah, who posed as an Ayurvedic practitioner, first gained his trust by offering treatment for a health problem.
He then allegedly promised to sell the goldsmith five kg of gold coins that he claimed came from a hidden treasure.
The goldsmith says he paid in instalments, including about ₹20 lakh online and ₹1.1 crore in cash.
He says he sold land and other assets to raise the money, but the coins were never delivered.
He has asked police to investigate, recover the money and take legal action against those involved.
City market police are searching for the accused.
A 40-year-old goldsmith has lodged a police complaint alleging he was cheated of ₹1.3 crore over a promise of five kg of gold coins.
The accused, identified as Bhootha Lingaiah, allegedly claimed he had obtained the coins from a hidden treasure.
The goldsmith said he paid the money in instalments, including around ₹20 lakh online and ₹1.1 crore in cash.
He alleged that the promised coins were never delivered despite repeated assurances.
City market police have launched a search for the accused.
- Who
- A 40-year-old goldsmith accused Bhootha Lingaiah, a man aged around 55, of cheating him.
- What
- The goldsmith alleges he paid ₹1.3 crore for five kg of gold coins that were never delivered.
- When
- The payments were made over a period of time. The complaint was reported on October 10, 2026.
- Where
- Not stated.
- Why
- The accused allegedly offered to sell the gold coins, claiming he had obtained them from a hidden treasure.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
The goldsmith had been suffering from an ailment.
The accused allegedly offered Ayurvedic medicines and later promised to sell the goldsmith five kg of gold coins.
The goldsmith allegedly paid ₹1.3 crore in instalments.
The accused allegedly failed to deliver the coins and continued to give assurances.
City market police launched a search for the accused.
- Alleged total payment
- ₹1.3 crore
- Promised gold
- Five kg of gold coins
- Online transfer
- Around ₹20 lakh
- Cash payment
- ₹1.1 crore
- Accused
- Bhootha Lingaiah, aged around 55
- Police response
- City market police launched a search for the accused
Sources
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