Mangaluru: A cheating case has been registered at Punjalkatte Police Station after fake gold jewellery was allegedly produced for pledging at a cooperative bank branch linked to Bantwal taluk. The attempt was detected during routine verification by authorised appraisers, preventing financial loss to the institution, police said.
The complaint was filed by a bank branch manager after three gold chains submitted by customers for a loan pledge were found to be imitation ornaments.
Fake ornaments submitted for gold loan
Mangaluru According to the complaint lodged by Ashwita (34), a resident of Sarappadi village in Bantwal taluk, she is working as the manager at Odiyoor Sri Vividoddesha Souharda Sahakari Sangha, Madanthyar branch, situated in Parenki village of Belthangady taluk.
On February 2, two customers visited the branch and informed staff that they wanted to pledge gold ornaments to avail a gold loan facility. They stated that the pledge was to be made in the name of one Abdul Nazeer.
As part of the standard procedure, the customers handed over three gold chains to the bank for valuation and processing of the pledge loan.
Appraisers detect imitation jewellery
Mangaluru During the verification process, the ornaments were examined by designated gold appraisers attached to the branch. Upon detailed inspection and testing, all three chains were found to be fake and not made of genuine gold.
Bank officials immediately halted the pledge process after the discrepancy was confirmed. Since gold loans are issued based on purity and weight certification by appraisers, early detection prevented wrongful sanction of funds.
Officials said cooperative banks and souharda societies follow established appraisal protocols precisely to avoid such fraud attempts.
Complaint filed, case registered
Mangaluru Following the discovery, branch manager Ashwita filed a formal complaint with Punjalkatte Police Station, detailing the incident and the attempted pledge using fake ornaments.
Based on the complaint, police registered a case under Sections 318(4) and 62 read with Section 3(5) of the Bharatiya Nyaya Sanhita (BNS), 2023, dealing with cheating, fraudulent acts and common intention provisions.
Police sources said investigation has been initiated to identify the two customers who presented the ornaments and to verify the identity details used for the proposed pledge.
Bank fraud attempts under watch
Mangaluru Investigators said cases involving fake gold pledged for loans are treated seriously as they directly target financial institutions and cooperative credit systems. Such attempts can cause significant losses if not detected at the appraisal stage.
Police are expected to collect branch records, customer entry details, identification documents submitted, and any available CCTV footage from the bank premises to trace the suspects.
Officials added that they will also verify whether similar attempts have been made at other nearby branches or financial institutions using the same names or ornaments.
Advisory for financial institutions
Mangaluru Banking and cooperative sector officials say the case highlights the importance of strict verification and certified appraisal before sanctioning gold loans. Institutions are advised to ensure multi-level checks, proper documentation and video recording of pledge transactions wherever possible.
Gold loan fraud attempts often involve imitation jewellery designed to closely resemble real ornaments, making professional appraisal essential.
Police have urged financial institutions to promptly report suspicious pledge attempts so that preventive action can be taken and repeat offenders can be tracked.
Conclusion
Mangaluru The prompt verification by appraisers helped prevent a fraudulent gold loan attempt at the Madanthyar branch of the cooperative institution. With a criminal case now registered, Punjalkatte police are working to identify those involved and determine whether the attempt is linked to a broader pattern of financial fraud.