11 lose Rs 1 crore to 'hidden treasure' gang in Hyderabad

Hyderabad: Eleven people have been cheated of nearly Rs 1 crore by a gang that promised them hidden treasure. The fraud came to light after the victims approached the police, officials said on Tuesday.

The gang allegedly convinced the victims that a large sum of money and gold was buried at a particular spot. They demanded money from the victims for performing rituals and arranging documents to unearth the treasure, the police said.

How the fraud worked

According to the complaint, the accused targeted people from different parts of the city. They spun a story about an ancestral treasure that could only be retrieved with the help of specific ceremonies.

The victims, believing the story, paid amounts ranging from a few lakh to several lakh each. The total loss is estimated at around Rs 1 crore, the police said.

The gang members reportedly kept the victims engaged for weeks, giving them false hope and asking for more money at every stage. They even staged fake rituals to make the claim seem credible.

Police investigation underway

Based on the complaint, the police have registered a case under relevant sections of the Indian Penal Code. A team has been formed to trace the accused, who are believed to have fled after the fraud was exposed.

Officials have not yet confirmed whether the gang is linked to similar cases reported elsewhere in the state. They are also examining call records and bank transactions to identify the accused.

Similar cases in the past

This is not the first time such a fraud has been reported in Hyderabad. In recent years, several people have fallen victim to gangs that promise hidden wealth or treasure.

In many such cases, the accused use superstition and greed to trap their targets. They often pose as astrologers or spiritual healers to gain the trust of the victims.

Police have repeatedly warned the public against believing in such offers. They have urged people to report any suspicious approaches to the nearest police station immediately.

What to watch

The police are expected to make arrests in the coming days as they track the accused. They have also advised citizens to verify any such claims with family members or authorities before parting with money.

Investigators are likely to release more details as the probe progresses. The case serves as a reminder that quick wealth promises often end in loss.