Hyderabad Police Arrest Interstate Fraudster in ₹2 Crore Gold Scam
The Hyderabad Central Crime Station (CCS) arrested Kondapuram Laxmikanth Reddy, an interstate fraudster accused of cheating victims of approximately ₹2 crore by promising to supply imported gold from Dubai and Sri Lanka at below-market prices. Reddy allegedly shared WhatsApp videos of packaged gold biscuits to gain trust and promised high returns before collecting large sums. A Sanath Nagar resident filed the complaint leading to the arrest. Police revealed Reddy is a habitual offender with six prior cases in Telangana and Andhra Pradesh, including financial fraud, criminal breach of trust, kidnapping, and intimidation. The CCS invoked organized crime provisions under the Bharatiya Nyaya Sanhita. The accused was remanded to judicial custody. Police warned the public against falling for offers of cheap gold or unusually high returns.
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