The Hindu : Businessman robbed of Rs. 12 lakhs

Online edition of India's National Newspaper
Thursday, Feb 12, 2004

Andhra Pradesh

Andhra Pradesh - Hyderabad

Businessman robbed of Rs. 12 lakhs

By Our Staff Reporter

HYDERABAD, FEB. 11. A businessman who wanted to buy gold biscuits on the sly lost cash amounting to Rs. 12 lakhs, when his attention was diverted by two persons in a deal that took place in his own residence, at Salim Nagar in Malakpet police limits.

According to the police, Gopal Reddy, a businessman was on the lookout for someone who could deliver gold biscuits. On Tuesday, he reportedly arranged to buy an unspecified number of gold biscuits from one, Srikanth Reddy.

On Wednesday morning, Srikanth Reddy and an accomplice went to the residence of Gopal Reddy. They were carrying two identical bags with them. After some discussion, Gopal Reddy handed over Rs. 12 lakhs in notes of Rs. 500 denomination. Srikanth Reddy put the notes into one bag and after a while, said he would have to go outside and get the gold from his vehicle.

Srikanth Reddy allegedly swapped the bags with the sleight of the hand and gave Gopal Reddy a bag that contained pieces of paper cut in the size of currency notes. Srikanth Reddy and his friend went out of the house and disappeared. It was only after a while that Gopal Reddy suspected something fishy only find, the duo make good their escape. He lodged a complaint with the Malakpet police. A case has been registered.

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