Man arrested for cheating Kodagu bank with fake gold ornaments

The Kodagu district police have apprehended an individual for defrauding the Kodagu District Central Cooperative Bank by pledging counterfeit fake gold jewellery. The arrest followed a complaint filed by the KDCC.

The suspect, K A Mohammed Rizwan from Kunjila village, allegedly attempted to pledge fake gold jewellery at the bank. Bank officials grew suspicious upon inspection and alerted the police, who promptly took Rizwan into custody. The accused had previously pledged gold ornaments twice at the same bank. On his third attempt, the ornaments he presented were found to be fake, prompting the bank to recheck the previous pledges. It was revealed that the gold jewellery he had pledged earlier was also fraudulent.

Authorities have stated that Rizwan defrauded the bank of Rs 15.13 lakh through these fake pledges. Bond Ganapathy, the President of the DCC Bank, expressed concerns that a well-organized gang might be behind this scheme, targeting multiple banks and financial institutions. He urged the district police to conduct a comprehensive investigation and ensure that banks and cooperative societies in the area remain vigilant to prevent further incidents of fraud.

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