Berhampur police have arrested three men, including one from Uttar Pradesh, for allegedly cheating banks of around Rs 24 lakh by mortgaging fake gold ornaments to secure loans in the name of another man over the past seven months.
SP Saravana Vivek M stated that S K Manjur Elahi (39) of Akatpur in Balasore was arrested on Thursday, while Biswajit Kar (42) of Sahadebkhunta in Balasore and Abhinab Srivastab (26) from Mohammadabad in Uttar Pradesh’s Mirzapur district were apprehended on Wednesday night. Police seized four fake bangles (62.710 g), two pairs of fake earrings (12.310 g), and a fake silver bar (61.070 g) from them.
Investigators revealed the trio met the complainant in Berhampur on January 27, having known him earlier through a shrimp hatchery in Kakinada, Andhra Pradesh. They lured him with commission to open loan accounts in his name and pledge their fake ornaments. In the first phase, they secured Rs 10.35 lakh from three private banks, followed months later by another Rs 10.61 lakh.
The fraud came to light when the complainant received repayment notices and banks prepared to auction the pledged gold. Tests confirmed the ornaments were counterfeit. Upon realising the deception, the complainant filed an FIR at Baidyanathpur police station. The trio was caught this week when they attempted another gold loan fraud in Berhampur, police said.
