₹1 Crore ‘Hidden Treasure’ Scam Busted in Hyderabad, Four Held

A fake buried-treasure operation has landed four people in police custody after they allegedly duped 11 victims of nearly ₹1 crore by promising to recover ancient gold and valuables hidden underground.

According to police, the gang’s prime accused claimed to possess special knowledge to identify locations where ancient gold, valuable coins and other treasures were supposedly buried. He allegedly targeted people by claiming that such valuables lay beneath houses, vacant plots or near old structures. After gaining their confidence, he reportedly brought his associates into the scheme and began demanding money for the recovery process.

The accused allegedly told victims that the treasure could be recovered only after conducting special rituals, excavation and other procedures. They promised that the expenditure would eventually lead to the discovery of gold worth several crores. Once victims agreed to pay, the gang would arrange excavation at the selected location.

However, police said the entire exercise was allegedly staged. Before the excavation, the accused would reportedly bury a bag containing coal and fake gold-plated coins at the site. During the digging, they would ensure that the bag and coins were discovered in front of the victims, creating the impression that genuine treasure had been found.

The gang allegedly used another story to keep the victims from immediately questioning the discovery. They reportedly claimed that the recovered coal would turn into gold after a special process, but that the transformation would take time. Victims were then persuaded to leave the location. The accused would allegedly flee with the money, later switching off their phones, changing vehicles or otherwise becoming unreachable.

Police said the gang had so far cheated 11 people in different areas and collected around ₹1 crore. The amount allegedly taken from individual victims varied according to their financial capacity and their willingness to believe the treasure claims.

The fraud came to light after a complaint was lodged at the Rajendranagar Police Station. Police examined the suspects’ movements, contacts and vehicles before the Task Force traced and arrested four accused. During questioning, investigators reportedly uncovered the alleged method used to stage the fake treasure discoveries.

Police recovered two cars, an autorickshaw, two motorcycles and four mobile phones from the accused. They also seized 25 fake gold coins and six kilograms of coal, along with other material allegedly used to execute the fraud.

Police have warned the public against strangers who claim to possess secret knowledge about buried treasure. People have been advised not to hand over money based on such promises and to immediately report suspicious approaches. Investigators are continuing to determine whether the accused were involved in other similar frauds and whether additional victims may have been cheated.