One arrested; cases against two Bank jewellery appraisers for certifying fake gold as genuine
Madikeri: The Kodagu District Police have arrested K.A. Muhammad Rizwan from Kakkabbe-Kunjila for allegedly defrauding the Kodagu District Central Cooperative (KDCC) Bank by pawning fake gold jewellery to obtain a loan of Rs. 15.13 lakh.
One more person B.A. Moosa from Emmemadu village also is in the dock for pawning fake gold at the same Bank to obtain a loan of Rs. 79,000. The Police have registered a case against four people, including two Bank jewellery appraisers M.A. Charan Kumar and E.L. Suresh.
Interestingly, Rizwan pawned a total of 278.03 grams of fake gold for six times and took a loan of Rs. 15.13 lakh from the KDCC Bank. He was caught when he came to pledge fake gold for the seventh time.
Muhammad Rizwan attempted to pawn 8 fake bangles at the Bank’s main branch on Dec. 4, which were identified as fake. His past offences came to light after the Bank authorities conducted a review of the gold he had pawned earlier and found that Charan Kumar and Suresh allegedly assisted the fraudsters.
Past history of fraud
Rizwan had taken a loan of Rs. 1.56 lakh by pawning a 29.20-gram necklace at the College Road Branch of the Bank on Nov. 25. On Nov. 29, he pledged 8 bangles weighing 64.15 grams at the same branch and took a loan of Rs. 3.62 lakh.
On Dec. 3, at the same branch, he pledged 8 bangles weighing 64.37 grams and took a loan of Rs. 3.60 lakh. On the same day, he pledged 7 bangles weighing 55.95 grams and took a loan of Rs. 3.10 lakh.
On Oct. 19, he pledged 6 bangles weighing 47.97 grams at the main branch and took a loan of Rs. 2.35 lakh. On Oct. 28, he pawned 2 bangles weighing 16.37 grams at the same branch and took a loan of Rs. 90,000.
Rizwan pledged a total of 278.03 grams of fake jewellery at both branches, securing a loan of Rs. 15.13 lakh. After he was caught at the Bank on Dec. 4, the Joint Registrar of Cooperative Societies in the CEO Office of the KDCC Bank, Praveen B. Naik filed a complaint at the Madikeri Town Police Station.
Following the exposure of this case, an inspection of the jewellery pledged at the Bank revealed that B.A. Moosa from Emmemadu had pawned 16.15 grams of fake jewellery at the main branch of the same Bank on Oct. 21 and secured a loan of Rs. 79,000. Bank Manager A.B. Damayanti filed a complaint with the Madikeri Town Police Station in this regard on Dec. 7.
This post was published on December 9, 2024 6:38 pm