Mysuru: Devaraja Police have registered a case against three persons including the Manager of a private bank for allegedly pledging fake gold jewellery and obtaining a loan of Rs. 8.16 lakh from a private bank.

The case has been registered against Manager of city’s Manappuram Finance Ltd. Sudeep, gold appraiser Sanjay and M.B. Prabhuswamy of Bengaluru.

Details: On Aug. 29, Prabhuswamy, who came to CSB Bank in city, told the bank staff that he had pledged about 73 grams gold jewellery at Manappuram Finance Ltd. and had taken a loan of Rs. 8.16 lakh besides telling the staff that the gold loan has to be taken over.

When the staff asked Prabhuswamy, it was just four days that he had pledged the gold at the private finance firm and why he wants the bank to take over the loan in such a short time.

Prabhuswamy then told the bank staff that he has to pay the interest every month but in their bank there is an option to pay the interest once in six months and hence he wanted CSB Bank to take over the loan.

CSB Bank staff then contact the finance firm Manager Sudeep, who told the bank staff that Prabhuswamy had pledged 73.77 grams gold jewellery which is genuine besides telling the bank staff that there was no provision to pay interest once in six months here and hence Prabhuswamy may have approached CSB Bank.

As Prabhuswamy had receipts for the gold jewellery he had pledged at the private finance firm, CSB Bank staff then opened a savings account in Prabhuswamy’s name, deposited Rs. 8.16 lakh in the account and transferred the money to Manappuram Finance through RTGS.

Later, CSB Bank staff, along with Prabhuswamy went to the finance firm and obtained two chains and two bracelets, all weighing 73.77 grams.

When the CSB Bank staff brought the jewellery to the bank and got it checked, they came to know that the jewellery was fake. The bank staff then went back to private finance company and asked the staff to keep the jewellery and give back the money.

As finance firm Manager Sudeep or Prabhuswamy did not reply, CSB Bank Manager D. Vikas lodged a complaint at Devaraja Police Station.

Based on the complaint, the Police have registered a case and are investigating.