4 arrested for duping traders by selling fake gold bricks

Four persons were arrested when they were trying to escape with Rs 44.50 lakh in cash after allegedly duping two traders from Telangana by selling fake gold bricks here, police said today.
Acting on a tip-off, a joint team of SWAT and Kotwali police last night arrested the four fraudsters after a brief encounter when they were trying to escape with a bag carrying Rs 44,50,000, SP City Shailesh Pandey said today.
The nabbed accused were identified as Haseem and Asif, both residents of Mewat district in Haryana, and Mathura residents Azad alias Chiddi and Nasaru, he said.
Rs 44.50 lakh in cash, two country-made pistols along with four live cartridges, two knives and two fake gold bricks were recovered from their possession, Pandey said.

However, the gang leader Magaruddin, also a resident of Mewat, and his one accomplice, managed to give a slip to police, he said.
Magaruddin, who used to earlier work as JCB driver for the traders in Telangana, had hatched the plan to dupe them by acting as middleman, Pandey said.
The accused had allured both thetraders of selling gold bricks at throw away price claiming they "badly needed money", he said.
A manhunt is on to nab the gang leader, the SP City said.