Mangaluru Police Nab Duo in Fake Gold Pledge Scam at Cooperative Bank
In a significant development in Mangaluru, law enforcement authorities have apprehended two individuals following their alleged attempt to pledge counterfeit gold ornaments at a cooperative bank branch located in Belthangady taluk. The incident, which unfolded on Monday morning, has sent shockwaves through the local banking community and highlights the ongoing challenges financial institutions face in combating fraud.
Details of the Alleged Fraud Attempt
According to police reports, the cooperative society branch in Parenki village, Belthangady taluk, was visited by two customers early on Monday. One of the individuals presented himself as intending to pledge gold chains on behalf of the accused, identified as Abdul Nazeer, 43. Subsequently, three gold chains were submitted for appraisal and potential pledging at the bank.
However, upon thorough examination by the bank's certified appraisers, all three gold chains were conclusively determined to be fake. The discovery prompted immediate action from bank officials, who swiftly alerted local authorities to the suspicious activity.
Police Investigation and Legal Action
Following a formal complaint lodged by the branch manager of the cooperative bank, the Punjalkatte police station registered a comprehensive case against the accused. The charges have been filed under Section 318(4) of the Bharatiya Nyaya Sanhita (BNS), which pertains to cheating, along with Section 62 read with Section 3(5) of the same legislation, addressing crimes committed with common intention.
The police have identified the second accused as Pramod P, 50. Both individuals hail from Bantwal taluk in the Dakshina Kannada district. After their arrest, the accused were produced before a competent court, where legal proceedings are now underway. The investigation remains active as authorities work to uncover any potential connections or broader networks involved in such fraudulent activities.
Broader Implications for Banking Security
This incident underscores the critical importance of vigilance and robust verification processes within cooperative banks and other financial institutions across India. With gold pledging being a common practice for securing loans, especially in rural and semi-urban areas, such attempts at fraud pose significant risks to both banks and genuine customers.
Local banking officials have emphasized their commitment to maintaining stringent appraisal protocols to prevent similar occurrences in the future. The case also serves as a reminder to customers about the legal consequences of engaging in fraudulent financial transactions, particularly under the newly implemented Bharatiya Nyaya Sanhita.
As the investigation progresses, authorities are likely to examine whether the accused have been involved in similar schemes elsewhere, potentially revealing patterns that could help strengthen preventive measures against financial fraud in the region.
