Udupi: Fake gold in mortgaged to obtain loan, by a man, arrested in Bengaluru

6:24 PM, Saturday, August 1st, 2015

Abdul MajeedUdupi: It is alleged that a man mortgaged, fake gold ornaments in order to obtain loan from a finance firm in Udupi has been arrested in Bengaluru.

Abdul Majeed (32), the acused, had obtained a loan from Manappuram Gold Loan Finance after mortgaging ornaments which he claimed to be made of gold, but later they were found to be fake

Majeed, a resident of Pandubettu had deposited 48.6 grams of fake gold ornaments and obtained a loan of Rs 93,000. A case was registered in Malpe and Udupi police stations on July 26.How a finance firm without checking, whether the ornaments are genuine gold and have given loan is strange and is also to be questioned.

Police began investigations, under the guidance of Udupi circle inspector Srikanth and sub-inspector Ravikumar, the Udupi and Malpe police and succeeded in tracing the accused to Bengaluru. Majeed was arrested near Anand Rao Circle, on July 28..

Majeed has been brought to Malpe and produced in court, and sent to judicial custody.



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