Hyderabad 'Gold Man' Arrested for Operating Elaborate Gold Fraud Scheme
Surya Kumar, a Hyderabad resident known as 'Gold Man', has been arrested by Attapur Police for allegedly cheating individuals through a fake gold supply scheme. He reportedly used his association with high-profile officials to gain trust, while his wealth was found to be largely imitation.
Highlights
- •Surya Kumar, known as ‘Gold Man’, was arrested by Attapur Police for an alleged gold fraud.
- •The accused falsely claimed to be a close aide of CM Revanth Reddy and Police Commissioner V.C. Sajjanar.
- •Victims were duped with promises of cheap imported gold but never received the goods.
- •Previous investigations revealed that most of his flashy gold jewelry was actually imitation.
A resident of Hyderabad, widely recognized by the moniker ‘Gold Man’, has been taken into police custody following serious allegations of orchestrating a gold fraud. The Attapur Police apprehended the suspect, identified as Surya Kumar, on Friday after multiple individuals filed complaints against him.
According to the official reports, the accused allegedly duped several victims by promising to provide them with imported gold at prices significantly lower than the current market rate. To establish credibility and gain the trust of his targets, Surya Kumar reportedly masqueraded as a close associate of both Chief Minister A. Revanth Reddy and Police Commissioner V.C. Sajjanar. This deceitful strategy reportedly helped him convince numerous people to hand over large sums of money in anticipation of discounted bullion.
Details of the Gold Fraud Investigation
The situation began to unravel when the promised gold was never delivered to the investors. Despite waiting for months, the victims received nothing, leading them to demand a refund of their capital. Rather than returning the funds, the accused reportedly turned to intimidation and threats to silence those he had defrauded. Frustrated by the lack of results and the aggressive behavior of the suspect, the affected individuals formally approached the Attapur Police, which ultimately led to the registration of a criminal case and his subsequent arrest.
This incident is not the first time Surya Kumar has attracted the attention of authorities. Back in March, he came under the scrutiny of the Income Tax department due to his flashy lifestyle and public appearances. He was frequently spotted at various public events and on local television channels wearing a significant amount of gold-colored jewelry, which he claimed weighed over two kilograms.
During the inquiry conducted by the Income Tax department, the suspect admitted that the vast majority of the ornaments he wore were, in fact, imitation jewelry. He disclosed that only a small portion—valued at approximately 3 lakh—was genuine gold. The accused allegedly used these deceptive displays of wealth to project a successful image, aiming to build confidence among his contacts in the local real estate and cinema industries. Beyond his activities involving the gold fraud, investigations reveal that Surya Kumar maintains various involvements, including running a wholesale chicken business, working as a personal trainer at a local gymnasium in Attapur, and participating in land settlement deals.
