WARANGAL: The police officials apprehended three fraudsters who were allegedly selling and cheating people with fake gold coins in Karimnagar on Thursday. The police seized 40 fake gold coins worth Rs 1 lakh from their possession.
The accused were identified as Nakka Rajaiah,46, a resident of Chakkapalli village, Kommu Thirupati, 45, a resident of Mallaram village and Somineni Bhaskar, 42, a resident of Nukalamarri village of Vemulawada Mandal in Rajanna Sircilla district.
According to the inspector of police P.Damodhar Reddy, the three defendants were farm labourers. To make quick money, they formed a gang and began defrauding people by selling fake gold coins. They used to coat the silver coins with gold after bringing them from Hyderabad.
By convincing people that they have gold coins and were willing to sell them for a lower price than the market price, they were able to dupe them into buying fake gold coins.
When police officers were conducting a vehicle check at the Mancherial chowrasta, they discovered three people moving suspiciously. After apprehending them for questioning, they discovered fake gold coins with them.
