Hyderabad Man Accused of Claiming Gold Worth Rs 1 Crore, Found to be Wearing Copper Valued at Rs 3 Lakh

Income Tax Officials Expose Hyderabad Man's Gold Jewellery Scam

A Hyderabad man, popularly known as "Old City Gold Man" Surya Bhai, has been exposed for flaunting gold jewellery worth about Rs 1 crore, which was found to be largely imitation and worth only around Rs 3 lakh. The man, identified as Pallapu Suresh Kumar, a 34-year-old resident of Attapur, was summoned after Income Tax (I-T) officials widened a probe into Telangana Hockey Association president Konda Vijay Kumar, from whom 1.4 kg of genuine gold ornaments were seized earlier at Delhi airport.

According to reports, the I-T investigation found that Surya Bhai was carrying 12 jewellery items when he appeared before officials, which he initially claimed were worth around Rs 1 crore. However, as questioning progressed, the figure was sharply revised, and departmental valuation later pegged the total value at about Rs 3 lakh. Most of the ornaments were found to be made of copper with gold or rhodium coating, while one item was silver with gold plating.

Surya Bhai had carefully built an image of extreme wealth through YouTube interviews, social media videos, and public appearances, often dressed in white and adorned with oversized chains, rings, and bracelets. Officials said he frequently changed the ornaments – not for style, but because the coating faded with use – and used at least 32 fake jewellery items across different appearances.

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The probe found that Surya Bhai's financial records did not support the image he projected. He had not filed income tax returns for six years except in 2022-23, when he declared an income of Rs 4.9 lakh from running a gym, a chicken shop, and working as a trainer. Authorities also found that he owned no immovable property in his or his wife's name and lived in a rented flat with a monthly rent of Rs 20,000.

While no arrests have been made so far, officials have asked Surya Bhai to furnish details of his assets and income sources.