A big Gold Loan Fraud has been unearthed at Canara Bank in Maharashtra. As per reports, fraud is estimated to be over Rs 7 crore.
Police have registered a case against bank officer, the branch manager and a gold appraiser in Badnapur. It’s alleged that Bank staff embezelled orginal gold kept in branch.
Two of the accused have been arrested. The fraud came to light during the bank’s routine quarterly revaluation of gold loan packets.
In routine investigation, original gold was found missing, following which a complaint was lodged by assistant general manager Keshavamurthy B V at the Badnapur police station.
During the inspection conducted on April 22, officials found several pledged gold packets containing fake jewellery, while some packets were missing.
The police said investigations revealed that 22 gold loan packets contained fake jewellery valued at Rs 3.8 crore, while 30 gold packets worth Rs 3.5 crore were missing from the strong room, taking the total fraud value to Rs 7.3 crore.
Examination of CCTV footage revealed serious irregularities. According to the police, footage from April 23, around 11.20am, allegedly shows a bank officer removing gold packets from the strong room and concealing them in his pockets. This bank officer is accused of directly carrying out the theft.
The gold appraiser is accused of certifying fake ornaments as genuine, thereby facilitating the fraud.
➡️ Canara Bank Gold Loan Calculator: Calculate Gold Loan EMI
