On Wednesday, the Hyderabad Police arrested two people for selling a fake diamond to a businessman. The two con men sold a coat button for Rs. 1.15 crores to the businessman.
The police identified the accused as Mohammed Salam Khan (39) from Medak and Mohammed Ather Siddique (52) from Asif Nagar. The police also reported that the two accused were in the diamond business.
Raids were conducted at the premises of the accused and the police seized the money amounting to Rs. 1,15 crores. They also found another duplicate diamond and other jewel related equipment. The Businessman filed a complaint in which he says Salam approached him and offered to sell him a 25 carat diamond. The businessman bought the diamond from the accused without testing it.
The businessmen later tested the diamond and found it was just a moissanite stone and immediately approached the Abids police to file a complaint. The accused were going in losses in their business and decided to dupe someone to solve their financial problems. The duo bought the fake diamond from Charminar for just R. 3,500 and sold it for Rs. 1.15 crores.
After purchasing the diamond, the complainant decided to sell the stone and took it to get appraised. But the businessman was shocked to learn that the diamond was worth nothing in the diamond market.
