Three held for selling fake 'White Gold'
Hyderabad, Aug 15 (INN): The South Zone team of Commissioner's Task Force on Monday arrested three persons who were trying to cheat innocent customers by selling them Titanium alloy ingot in the name of original platinum, which is a highly valuable product in the open market.
According to police, three accused - R Mohan Babu (32) and Md Abubakar (38), both residents of Bhootpur in Mahabubnagar district and KVS Prasad (30) of Balanagar in the city, were trying to cheat customers by trying to sell fake 'White Gold'.
On a tip off, the South Zone Task Force team led by inspector S Mohan Kumar apprehended the three accused with 550 grams Titanium with alloy ingot from their possession at Lonalova Bakery in Bowenpally. They were trying to sell the same in the name of pure Platinum to a customer for Rs. 5 lakh.
During interrogation, the accused Abubakar confessed that about two months back he procured the Titanium ingot from one of his friend by name Ashwaq, a railway contractor and the said Titanium ingot seems to be Pure Platinum metal.
He along with his other two associates Mohan Babu and Prasad hatched a plan to cheat the gullible customers by selling the Titanium with alloy ingot in guise of original platinum and grab good amount from innocents. In the open market the platinum is popularly called as 'White Gold' and it is costlier than gold.
Besides 550 gms of Titanium alloy ingot, police have also seized two cars - One Ford Fiesta and One Tata Indica, three cell phones and Rs 1000 cash. The arrested accused persons and seized property have been handed over to Bowenpally Police Station for further action.
Police have appealed to the general public to purchase Platinum only from licensed dealers/merchants to avoid the trap of cheaters.
News Posted: 15 August, 2011
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