Hyderabad, April 25: The Mahakali police have unveiled a significant fraud case, arresting four members of an interstate gang. The case was registered at the Mahakali police station in the Secunderabad zone of Hyderabad.
According to police reports, the complainant, Hiralal Verma, operates a silver refinery named Shri Jagdamba Industries on Mahakali Street in Secunderabad. On March 20, 2026, around 4:30 PM, one of his regular customers, Rajesh, visited the shop with another individual. They brought three raw silver ingots and presented a purity testing report from the Durga Bullion Refinery located in Char Kaman, Hyderabad.
Since Rajesh had conducted business with Hiralal multiple times before, he trusted him. Without any verification, Hiralal handed over twenty-five small silver ingots, weighing approximately 6,350 grams, equivalent to sixty percent purity. The accused then left the premises. Later, when Hiralal checked the ingots in the market, he discovered that they contained absolutely no silver, resulting in a loss of around fifteen lakh rupees.
Subsequently, two more similar cases emerged—one at the Mahakali police station and another at the Market police station. In these instances, the complainants suffered losses equivalent to over six kilograms of silver. In total, the gang defrauded traders in three cases.
Police investigations revealed that this was an organized gang led by Hridesh Kumar, comprising five members. Three of them hail from Agra in Uttar Pradesh, one from Etawah, and another from Madhya Pradesh. All members are either relatives or friends.
The gang employed a clever strategy. They would first contact silver traders and gain their trust by providing genuine silver ingots with sixty percent purity on the first two transactions. On the third occasion, they would present a fake report and deliver counterfeit ingots with zero purity in exchange for real silver. This method led to multiple fraud incidents across Madhya Pradesh, Odisha, Delhi, and Uttar Pradesh.
On April 20, 2026, Hridesh Kumar was arrested in Agra. The following day, Sushil Kumar Verma, Prince alias Laddoo Soni, and Rajiv Jain were also apprehended in Agra and Etawah. Sonu Kushwaha was arrested in Madhya Pradesh. Transit warrants have been issued against all of them.
During the arrests, police recovered 8.4 kilograms of silver, 150,000 rupees in cash, and a mobile phone from Hridesh Kumar. Mobile phones were also seized from the other accused.
Hridesh Kumar has a prior criminal record for fraud, with a case registered against him in 2021 at the Ashok Nagar police station in Madhya Pradesh.
This successful operation was conducted by the Mahakali police team under the guidance of Additional Deputy Commissioner J. Narasayya, Assistant Commissioner C.H. Sridhar, and S. Ravi Kumar. Authorities stated that the search for the remaining gang members is ongoing, with raids being conducted in other states.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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