Stephan Kayyar
Daijiworld Media Network - Kasargod (DV)

Kasargod, Dec 30: A man and a woman allegedly defrauded Hosangadi Co-operative Bank of Rs 70 lac by pledging fake gold. This incident came to light after the bank officials conducted a check. They had cheated the bank for 13 years by mortgaging the fake gold, it is learnt.

The branch of the bank came into existence 13 years ago. From then on, these two were cheating the bank, said officers. When the gold was examined as part of standard procedure under the initiative of bank manager K Gopal Rao, the fraud came to light.

Bank officials started doubting the duo as they never came to reclaim the gold. Before accepting the gold, the bank has to check it, but even though the bank had done this, the gold was found to be fake only now.

Officers also confirmed that even bank officials were subjected to inquiry for confirmation of their role in this fraud.

An investigation has been initiated and it has been decided to file a complaint with the police.