A Cautionary Tale of Glamour, Greed, and Gemstone Fraud By: Javid Amin | Srinagar | 10 July 2025 The Glittering Trap: Kashmir Sapphire Scam Hits Hyderabad In a scandal that stunned both gemstone circles and law enforcement officials, a prominent Hyderabad businessman and Nawab, Mir Firasath Ali Khan, was allegedly conned out of ₹3 crore by fraudsters posing as legitimate Kashmir sapphire traders. Lured by the reputation of Padder Valley sapphires, renowned for their unmatched brilliance and rarity, Khan believed he was securing a priceless deal. What he received instead…
Read MoreKashmir Mines to Hyderabad Heist—Unveiling India’s Sapphire Scam
