Man sold 1.2 crores of fake diamonds

Two persons, who allegedly cheated a Hyderabad based jeweller of Rupees 1.2 crore by selling him a fake diamond, were nabbed by the Central Zone Task Force on Wednesday. 

According to the information, the two accused first assured Sheikh Ilias that the 25-carat diamond, which he is buying, is very much in the market. Then both of them proved fake diamonds real through a fake machine. At the same time, he also promised that after some days he would also help Sheikh in selling this diamond. After buying the diamonds Sheikh Ilias went to sell it in the market when he got the diamond checked at a jewellery store, it turned to be a fake and approached the police who tracked down the duo.

City police commissioner V V Srinivas Rao said, “Mohd Ather Siddique (52) and Mohd Salam Khan (39), who are in the pearls and gems business, were arrested from Abids area based on a complaint filed by the businessman”.  

Siddique and Khan allegedly offered him a “25-carat diamond piece”, according to the complainant. 

“The cheap material resembling the diamonds are used for making buttons”, Rao said. 

As per the investigation, Siddique and Khan had suffered losses in their business and needed money, so they hatched the plan to pass off a fake diamond as a real one. 

They purchased a fake diamond for Rupees 3,500 from the Sunday market at Charminar and sold it to the complainant. 

Police also recovered Rupees 1.2 crore from the duo. Further probe is on, commissioner Rao said.