Police are on the look out for a three-member gang, which had reportedly cheated a goldsmith from Srirangam of money by giving gold-coated copper bars.
Kumar has lodged a complaint that his relative had introduced the gang members to him, who claimed that they would provide him gold at a cheaper rate than the market price.
A gang member showed a gold bar for testing, based on which Kumar paid Rs 1.5 lakh in cheque and Rs 3.5 lakh in cash during March end but later found the bars to be gold coated ones, police said.
Realising that he was cheated, he lodged a complaint at the office of Commissioner of Police yesterday.
Police are investigating, they said.
