Hyderabad (Telangana) [India], April 25 : Mahankali Police in Hyderabad have busted an inter-state cheating gang by arresting four accused persons in connection with FIR No. 52/2026 registered under Sections 316(2), 318(4) read with 3(5) of the Bharatiya Nyaya Sanhita (BNS), officials said on Saturday.
Police said the accused were involved in a large-scale silver cheating racket operating across multiple states.
According to the complaint filed by Sri Hiralal Verma, who runs "Sri Jagadamba Industries" at Mahankali Street, Secunderabad, the incident took place on March 25, 2026, at around 4:30 PM when one of his regular customers, Rajesh, along with another person, visited his shop.
They allegedly brought three raw silver bars weighing 3425 grams with 61% purity, 3420 grams with 63.75% purity, and 3316 grams with 62.75% purity, along with a purity testing report.
Police said since the accused Rajesh was a regular customer who had earlier exchanged silver multiple times, the complainant trusted him and handed over 25 small silver bars weighing a total of 6350 grams, equivalent to 60% purity, without rechecking the material. The accused then left the shop.
Later, the complainant tested the material and found that it contained 0% silver content, following which he realised he had been cheated. The estimated loss was around ₹15,00,000, officials said.
Subsequently, two more similar cases were registered at the Mahankali Police Station and the Market Police Station, where complainants were cheated by the same group. The total loss is estimated at 6.3 kg of silver in the Mahankali PS and 6.2 kg of silver in the Market PS cases.
Police said the accused formed an inter-state gang comprising five members, including three accused from Agra (Uttar Pradesh), one accused from Etawah (Uttar Pradesh), and one accused from Madhya Pradesh. The group allegedly operated across Madhya Pradesh, Odisha, Delhi and Uttar Pradesh.
According to police, the accused Hridesh Kumar allegedly hatched the plan along with other accused persons to first build trust by supplying genuine silver of 60% purity during initial transactions. After gaining the confidence of traders, the gang allegedly supplied fake silver with 0% purity along with forged certificates and escaped with genuine silver bars.
Police said the gang had committed similar offences in other states as well.
On April 20, 2026, accused Hridesh Kumar was arrested at Agra, Uttar Pradesh, and a transit warrant was obtained. On April 21, 2026, accused Sushil Kumar Varma and accused Prince Laddu Soni were arrested at Agra, Uttar Pradesh, while accused Rajeev Jain was arrested at Etawah, Uttar Pradesh. Another accused, Sonu Kushava, was arrested from Madhya Pradesh, police said.
Police said 8.4 kg of silver, ₹1.5 lakh cash, and a mobile phone were seized from the accused Hridesh Kumar.
Police also said the accused were wanted in other similar cases, involving 6.2 kg silver worth around ₹15,00,000, and another case at Market Police Station, Malkajgiri, involving 6 kg silver worth around ₹15,00,000.
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