Four held with gold worth Rs 1 crore in Hyderabad

The arrested persons were G Niranjan (40), P Balapeer (32), G Ranjit (22) and M Venkataiah (55)

Hyderabad: Four labourers, who hid a bag containing gold ornaments worth Rs 1 crore that one of them found on an inundated road during the recent rains, found their dreams of becoming rich overnight shattered after the Banjara Hills police caught up with them on Thursday.

The arrested persons were G Niranjan (40), P Balapeer (32), G Ranjit (22) and M Venkataiah (55).

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City Police Commissioner Anjani Kumar said that on October 10, a salesman working with a jewellery shop in Jubilee Hills was carrying gold ornaments weighing 143 tolas in a bag on his motorcycle. Around 6 pm, when he was driving along on Road No 3, Banjara Hills, it started raining and the man slipped on the road while trying to rush to the shop. He lost the bag which fell on the road and was swept away in the rainwater.

“Niranjan, who stayed in the huts nearby, heard from other locals that the bag was washed away in rainwater and started searching for it. He finally found it near his own hut. However, instead of informing the police, the man called his friends Balapeer, Ranjith and Venkataiah and the four decided to sell it,” the Commissioner said, adding that the gang also found the salesman’s mobile phone in the bag.

They took the phone to Jagadgirigutta where they gave it for repairing. “The police, meanwhile, was tracking the phone’s location and reached Jagadgirigutta and nabbed one of the gang members. Based on leads provided by him, the rest of the gang too were nabbed and 125 tolas of the gold ornaments were recovered from them,” the Commissioner added.

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