Udupi Police Bust Fake Gold Loan Racket; Five Arrested
Acting on the complaint and in view of a rise in similar cases in the district, Udupi Police formed three special teams under the supervision of Kaup Circle Inspector: Reports
UDUPI: The Udupi district police have busted a gang that allegedly pledged fake gold ornaments to obtain loans from banks, arresting five persons from different parts of the country and seizing gold-polishing equipment, computers, and cash.
According to the complaint filed by the branch manager of Karnataka Bank, Kattingeri branch in Udupi, four separate cases were registered at the Shirva Police Station under Sections 316(2), 318(4), and 3(5) of the Bharatiya Nyaya Sanhita (BNS). The accused are said to have pledged imitation ornaments as genuine gold to secure bank loans, defrauding the institution.
Acting on the complaint and in view of a rise in similar cases in the district, Udupi Police formed three special teams under the supervision of Kaup Circle Inspector. The teams tracked the accused to Bengaluru, Goa, Mumbai, and Delhi, eventually arresting five individuals- Puneet Anand Kotianof Ambalpady, Sudeep of Tenkanidiyur, Ranjan Kumar of Katpady, Sarvajeet HK of Perdur village (all four from Udupi district) and Rajesh Dilip Patel of Pune.
Police seized Rs 4.3 lakh in cash, a laser machine, and a computer used to engrave fake hallmark stamps on the ornaments. The accused were produced before a court, which has remanded them to judicial custody.
During interrogation, police found that the gang had also defrauded banks in Brahmavar, Hiriyadka, and Udupi city police limits by pledging imitation gold jewellery for loans.
The operation was carried out under the guidance of Karkala Assistant Superintendent of Police Dr. Harsha Priyamvada and Kaup Circle Inspector Azmath Ali, with Shirva PSIs Manjunath Marabad and Lohith Kumar CS, Padubidri PSI Anilkumar T Naik, ASI Sridhar KJ, and constables Kishore, Manjunath, Arun, Siddarayappa, Nagaraj, and HC Nagara
