News Karnataka
Wednesday, February 01 2023

Gadag: Scammers obtain loan of Rs. 3.1Cr from 2 banks pledging fake gold

Gold seized from KIA
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Gadag: A group of scammers allegedly obtained loan of Rs. 3.1 Crore from two banks in the District by pledging counterfeit gold ornaments, informed the Police.

The Police said that to obtain a loan of Rs. 1.43 Crore from IDBI Bank, the accused pledged 4,870 gm of fake gold.

In the second case, they pledged 4,983 gm of counterfeit gold ornaments to take loan of Rs 1.58 Crore from Union Bank, the police said.

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