Udupi: In a shocking case of fraud, a gold loan scam has emerged in Udupi, where complainants were tricked into paying Rs 6 lakh for counterfeit gold. Karthik, a 32-year-old field officer at Dhan Ganapati Gold & Diamond Finance, Mysuru, fell victim to the elaborate scam.
The incident began on January 2, 2025, when Karthik and his colleague, Kavan, received a call from Abbas, who claimed to have gold stored at various societies in Udupi. Following Abbas’s instructions, they traveled to Udupi on January 3 and met him near Uchila in Kaup taluk to discuss retrieving the gold.
As per Abbas’s directions, the duo transferred Rs 6 lakh as an advance via RTGS to his account at the Kundapura Federal Bank. The pair then retrieved 44 grams of gold from Belapu Agriculture Co-operative Society, 16 grams from Guru Nityananda Co-operative Society, and 32 grams from Murtedara Co-operative Society.
However, after receiving the gold, the accused instructed them to wait at the Udupi bus station for additional gold from Kundapura. When there was no further contact, the complainants grew suspicious. A visit to a gold testing shop in Udupi confirmed that the gold was fake, revealing they had been duped.
A complaint has been filed at the Udupi city police station, and the case is being investigated under Crime No. 5/2025. The investigation includes sections 318(4), 318(2), and 3(5) BNS.