Seven arrested for duping bank by mortgaging fake gold in Odisha

The Sonepur Police on Tuesday arrested seven persons for allegedly duping Bank of Baroda by taking loan from the bank against fake gold ornaments.

The fraudsters duped the bank to the tunes of Rs 52,83,100 in a span of two years- between 2019 and 2021.

The matter was disclosed in a press conference by the Sonepur Superintendent of Police, Amaresh Panda on Wednesday.

As per the police, FIR has been registered against a total of 11 accused including the goldsmith who had purportedly arranged fake purity certificates for the gold. However, only seven accused have been arrested so far.

Addressing a press conference, Panda said, “The accused had managed to take 65 different gold loans by mortgaging fake gold, mainly brass from the Bank of Baroda branch in Sonepur amounting to Rs 52, 83,100. Out of the 11 accused, we have arrested seven fraudsters, mainly from Silati and other nearby villages.”

“The goldsmith who had provided the gold certificates has also been arrested. We are in the process of ascertaining whether any bank officials are involved in this case,” Panda added.

All the seven accused will be forwarded to court today (Tuesday), he added.

(Reported By Rabindra Hota, OTV)