Daijiworld Media Network – Udupi (MS)

Udupi, Mar 7: Padubidri police station's PSI Prasanna and team have uncovered a fraudulent scheme worth lakhs of rupees orchestrated by Kerala native Rajiv. The accused pledged 30 grams of golden ornaments in local societies and banks to obtain loans, drawing inspiration from a movie plot to deceive banks and societies.

Additionally, Kumta native Nitil Bhaskar Shet (35), Sanjay Shet (42), and Kailas Gorada (26) from Belagavi were apprehended for their involvement in assisting the main accused, Rajiv, in the fraudulent activities.

All suspects have been presented in court and remanded to 15 days of judicial custody. Police confiscated machinery valued at Rs 3.5 lac, which was utilized to imprint fake 916 Hallmark seals, along with a computer.

Rajiv, with the aid of his friend Nitil Bhaskar Shet, devised a plan to travel to a Gulf nation with fake golden ornaments, created using 30 grams of gold, while wearing 20 grams of authentic gold on his return to India.

Two other accomplices from Kumta were enlisted by Rajiv to manufacture the counterfeit golden ornaments, which were stamped with a Hallmark seal in Belagavi. However, Rajiv later shifted his focus to defrauding local financial institutions.

Rajiv and his wife pledged duplicate golden ornaments to secure loans from financial institutions in Padubidri and Ucchila, with the institutions failing to detect the forgery. It was only during the auction process of the pledged gold that one participant noticed the fake nature of the ornaments.

This case was resolved under the guidance of Udupi SP Arun Kumar, ASP Siddalingappa, Karkala DySP Kalagujji, and Kaup CI Jayashree Mane, with Padubidri PSI Prasanna and his team executing the operation.