Daijiworld Media Network - Mangaluru (SP)

Mangaluru, Jan 29: Six separate cases were registered in three police stations in the city relating to cheating cooperative societies to the extent of several lacs of rupees by raising loans against pledge fake gold ornaments.

K Sadiq from Kalkatta near Manjanady and another person were taken into custody by the police.

The police said that in all the fake gold cases which have come to light so far, the ornaments pledged to societies are in the form of bangles. These bangles were given three to four gold coatings to look like original gold. As per an estimate, the amount of fraud may be around Rs 50 lac.

The cheating came to light when gold pledged by Sadiq in Atmashakti multipurpose cooperative society at Mudipu was being checked along with others. The staff immediately called Sadiq in the guise of missing signature, and handed him over to the police when he arrived there.

Heads of the institutions which were fleeced in this manner met city police commissioner, N Shashi Kumar here on the evening of Thursday January 28 and provided him with the details of the fraud.