The Lakadganj police have registered a case against Dhirajkumar Sharma (45) for allegedly cheating Federal Bank out of Rs3.41 lakh by pledging fake gold jewellery to secure a loan.
The fraud came to light when Khushbu Gaulkar (33), the bank manager at Federal Bank’s Chhapru Nagar Chowk branch, discovered that Sharma had submitted three fake gold necklaces, weighing 72.4 grams, on March 19, 2024. The jewellery was merely coated with gold to appear genuine and was falsely presented as authentic collateral.
Upon detecting the fraud, a complaint was filed by PSI Pravin Wakade, and a case was registered under Section 420 of the Indian Penal Code (IPC) for cheating. Police officials said Sharma intentionally misled the bank, violating the institution’s trust to obtain the loan fraudulently.
An investigation is underway to determine if more individuals or similar fraudulent attempts are linked to the accused.
