The Hindu·2 min read·medium
Shivamogga Police arrest two people who cheated banks by pledging fake gold to take loan
T
The Hindu Bureau
✦AI Summary
Shivamogga police have arrested two individuals for defrauding multiple banks by pledging fake gold-coated jewelry as collateral for loans. The gang successfully obtained ₹28 lakh by exploiting banks that relied solely on basic acid tests for verification.
Shivamogga police have arrested two persons on charges of cheating several banks after obtaining loans amounting to ₹28 lakh by pledging gold-coated (fake) jewellery.
businesssocial justice
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