6 months ago
2
Bengaluru
The Central Crime Branch (CCB) Economic Offences Wing arrested 2 persons for allegedly moving a fraudulent ‘0% involvement golden loan’ strategy successful the city.
According to the police, the accused, identified arsenic Salaam and Ajith, had opened a jewellery store successful Vidyaranyapura and lured customers by offering golden loans astatine 0% interest. Believing the offer, respective radical pledged their ornaments but received lone 50% to 60 % of the existent value. They were besides told not to redeem their jewellery for astatine slightest 11 months.
During that period, the accused allegedly sold the pledged golden to different jewellery store successful HRBR Layout, making a nett of 40% to 50%. The accused aboriginal unopen down the store and went absconding aft allegedly misappropriating astir 4 kg of gold, the constabulary said.
The CCB traced and arrested the main accused from his residence successful Peenya. From the HRBR Layout shop, officers seized 1.47 kg of golden ornaments and 5 kg of metallic items, unneurotic valued astatine astir ₹1.8 crore.
Preliminary investigations person revealed that the accused were progressive successful akin fraudulent activities successful Mangaluru territory and successful Kerala.
Public advisory
City Police Commissioner Seemant Kumar Singh advised radical to beryllium cautious portion dealing with golden indebtedness firms. Before pledging gold, the nationalist is advised to verify the authenticity and licence of the fiscal institution. “Do not autumn prey to deceptive schemes specified arsenic ‘0% involvement loans’. If immoderate suspicious oregon fraudulent schemes are noticed, delight pass the nearest constabulary presumption oregon CCB Economic Offences Wing immediately,” helium said.
