A 40-year-old goldsmith has lodged a police complaint alleging that he was cheated of ₹1.3 crore by a man posing as an Ayurvedic practitioner, who allegedly promised to sell him five kg of gold coins that he claimed to have obtained from a hidden treasure.
According to the complaint , the goldsmith had been suffering from an ailment for nearly two years when he came into contact with the accused, identified as Bhootha Lingaiah, a man aged around 55 who was reportedly from the Tamil Nadu border region.
The accused allegedly gained the complainant’s trust by offering Ayurvedic medicines and claiming that he could help him recover from his health problems.
The complainant alleged that the accused subsequently told him about a quantity of gold coins that he had supposedly found in a hidden treasure and offered to sell him five kg of the precious metal. Trusting the accused’s claims, the goldsmith allegedly agreed to the deal and began paying him money in instalments.
The complainant reportedly paid a total of ₹1.3 crore to the accused over a period of time. Of this, around ₹20 lakh was transferred online to a bank account reportedly associated with a woman identified as Luvavathi, while the remaining ₹1.1 crore was allegedly paid in cash.
To arrange the money, the goldsmith claimed that he sold a land measuring one acre and 24 guntas, along with other assets. Despite receiving the money, the accused allegedly failed to deliver the promised gold coins and continued to give assurances.
The goldsmith has urged the police to investigate the alleged fraud, recover the money and initiate appropriate legal action against the accused and others suspected to be involved.
The city market police have launched a search to nab the accused.
Published – October 10, 2026 08:45 pm IST
