Rajasthani gang pulls a fast one on Secunderabad's Pot Market traders

SECUNDERABAD: All that glitters is not gold in Secunderabad’s Pot Market. And traders at the famous gold jewellery hub learnt this the hard way. Traders at Pot Market were duped of at least `60 lakhs by gangs from Rajasthan.
In early August, a jewellery shop owner lodged a complaint in Market police station claiming that he had supplied gold to a Maharashtra based gold trader on credit, over a span of six months.During the initial stages, the accused promptly made payments. With time, the accused began to increase the quantity of gold being ordered from the victim, who on basis of trust supplied gold with an understanding that money would be paid at later stage. This tarder did so keeping in mind that the accused had made all the prior payments promptly.

However, in the first week of August, the victim realised that the accused had duped him after the latter became inaccessible. The accused had allegedly closed his business in Mumbai which led to the trader from Secunderabad losing close to `37 lakhs.
Nearly 10 days later, the local police received another complaint where another jeweller from Pot Market lost money supplying 746 grams of gold. The accused in this case, Narsing, was operating a small store in Kukatpally since August 2018. Narsing gained the victim’s confidence by initially procuring gold ornaments worth `8.54 lakhs. Narsing later made a payment of ` 3.16 lakhs. In December 2018, the accused procured gold worth ` 21.04 lakhs.
``When the victim asked Narsing to clear the arrears, the latter started to avoid the victim besides abusing him. He also went on to threaten the victim. In the second week of August, Narsing winded up his business in Hyderabad and went missing,’’ Market police said. During the course of the investigation, police identified that Rajasthan based gangs were behind the cheating. “In case of the first victim, who lost `37 lakhs, the accused moved his base from Maharashtra to Rajasthan. Similarly, in the other case too, Narsing went to Rajasthan,’’ investigators added.
The accused in both cases have been booked under Section 406(punishment for criminal breach of trust), 420 (cheating) and 506 (intimidation) of the IPC.
Recently Task Force officials travelled to Rajasthan but failed to trace the gang and make arrests.