Dream of Blue Sapphires Turns Nightmare for Hyderabad Businessman

A Hyderabad businessman's aspiration to invest in rare blue sapphires transformed into a costly ordeal when fraudsters deceived him of Rs 3 crore, as per the announcements from Jammu and Kashmir Police on Wednesday.

The police managed to help the victim reclaim Rs 62 lakh and have begun legal measures to confiscate the properties of the suspects under Section 107 of the Bharatiya Nagarik Suraksha Sanhita (BNSS). This action allows for the attachment and forfeiture of property to restore the stolen funds to the complainant, officials reported.

The complaint filed by Mir Firasath Ali Khan from Hyderabad disclosed a fraudulent scheme by individuals from Jammu pretending to sell fake diamonds under the guise of the prestigious Kashmir blue sapphires. An FIR was lodged, uncovering a wider plot involving Mohammed Rayaz of Rajouri and Mohammed Taj Khan of Surankote in Poonch. They were implicated in deceiving the businessman out of Rs 3 crore and attempting to sell him counterfeit Kashmir sapphires valued at Rs 25 crore.

(With inputs from agencies.)