Hyderabad, March 2 -- A 32-year-old man has been arrested by the Hyderabad cybercrime police for allegedly cheating people by offering gold at a lower price. Police also recovered one mobile phone and an SBI savings account passbook.

The accused has been identified as Jale Chandra Shekhar Reddy, from Saroor Nagar, Ranga Reddy district.

According to reports, In December 2024, the victim received a WhatsApp call from an unknown person claiming to be traveling from Mumbai to Hyderabad to buy gold at Rs 50,000 per 10 grams which is significantly lower than the market rate of Rs. 80,000.

The fraudster convinced the elderly man to buy six tolas of gold, citing references of known people to gain his trust.

The victim transferred Rs. 5 lakh i...