Seven arrested for looting Rs 3.6 crore from gold trader

The police managed to recover cash to the tune of Rs 2,89,33,800, gold ornaments weighing about 350 grams and one car from the accused

On Wednesday, the Cyberavad police arrested seven members of a highway robbery gang from Maharashtra including two women for allegedly robbing Rs 3.6 crore cash from a gold trader at Shadnagar near Hyderabad. On June 28, the accused intercepted the vehicle and forcibly sat in it after threatening the car driver with a
cigar lighter resembling a pistol and took the car towards Balanagar and made the occupants get off and took away the vehicle along with Rs 3,67,17,850 cash.

After committing the offence, the members of the gang went to the house of the prime accused Vishwajith in Karad town of Maharashtra and shared the stolen cash among themselves. During the course of the investigation, a police team tracked the location of the accused near Zaheerabad town of Telangana while they were planning to commit another offence.

The police managed to recover cash to the tune of Rs 2,89,33,800, gold ornaments weighing about 350 grams and one car from the accused. The victim, who is into gold business and procured gold at a cheaper price from different parts of Kerala and transported the same to different cities including Hyderabad and Mumbai in his cars through different employees and sold it.

One of the accused, who worked as a driver and collection boy with the gold trader had recently informed
about gold and cash transportation business of the victim to other members of the gang who then hatched a plan to commit the robbery, the police added.

With inputs from PTI

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