Man allegedly flees with gold worth Rs 20 cr in Hyderabad 'Jewellery Fraud'

In a major jewellery fraud, a man identified as Nitin allegedly duped four jewellery showroom owners and escaped with gold ornaments worth nearly Rs 20 crore.

According to information available, Nitin gained the trust of the traders by claiming to have strong business connections with leading jewellery showrooms. Using these assurances, he allegedly collected more than 13 kgs of gold ornaments from the victims over a period of



time.

The businesses which were duped include Navya Jewellers, Siddhi Vinayak Jewellers, Bansilal Jewellers and Shyam Baba Jewellers.

The owners approached the Hyderabad Central Crime Station police after Nitin reportedly became unreachable and failed to return the jewellery or make payments.

Police have registered a case based on the complaints and taken up an investigation to trace the suspect and recover the stolen gold.