Berhampur: Baidyanathpur police in Odisha’s Ganjam on Thursday arrested three persons for allegedly duping six banks to the tune of Rs 24 lakh by mortgaging fake gold ornaments.
The accused have been identified as Abhinav Srivastava of Mirzapur (Uttar Pradesh), Biswajit Kar of Sahadevkhunta (Balasore), and Sheikh Manjur Elahi. Fake gold bangles, earrings, and silver-coated items have been sized from them.
According to sources, P Purushottam from Hinjilicut-Badakhande came in contact with the accused person while working at a prawn factory at Kakinada in Andhra Pradesh. About 18 months ago, they promised to help him get bank loans by pledging what they claimed was old gold jewellery, to set up a prawn factory. Accordingly, Purushottam opened bank accounts in his and his relatives’ names at banks in Berhampur, Hinjilicut, and Mandia Palli. He mortgaged the jewellery provided by the accused, securing loans exceeding Rs 20 lakh, which he handed over to them.
The fraud came to light when Purushottam tried to sell some bangles and realised they were counterfeit, coated with only a thin layer of gold.
Following his complaint, police set a trap, instructing him to lure the accused back to Berhampur, where they were apprehended. Further investigation is underway to uncover the full extent of the racket, police said.