Chennai: Periamet police have captured father-child duo because of cheating some people with pretext selling gold at cheaper prices.
Police said that the main defendant, Balaji, posed as an IRS officer and cheated several people claiming to have a large gold stock confiscated during the department raid he promised to sell it at a discount price.
Explain the modus of its operandi, a police officer said that Balaji will initially receive 10 lakh in return for 12 lakh gold.
After gaining their confidence with a smaller transaction similar, he then told people to invest more in gold and ask for a large number of them.
Trust him, some people give him lakh and even crores rupees.
Immediately, Balaji allegedly refused to give them gold or return money.
Based on complaints by Praveen Alexander from Puducherry, the police registered the case and arrested Balajia and his father Thuladas, a partner in a crime.
The police said that Balaji had cheated many people in the same way and added that they expect more complaints.
The police said that Balaji led a flamboyant life with the money he accused from the others.
The Father and the child were returned in court detention.
Chennai: Duo father-child is held for gold fraud in the period
