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Kasargod: Three arrested for mortgaging fake gold in banks

  •   Mon, Sep 29 2014 07:14:48 PM

by Stephan Kayyar
Daijiworld Media Network – Kasargod (EP)

Kasargod, Sep 29: Kasargod Dy SP T Ranjith led police team have arrested three suspects for mortgaging fake gold in banks and financial institutions.

The arrested are identified as Palakkad Kongat resident Zakir Hussain(42), Kiyur resident by origin now staying in Ariyal, I Hassan(36) and Patla resident Ibrahim Harris alias Patla Harris(40).

They have allegedly mortgaged fake gold, making to believe as genuine gold in banks and financial institutions and borrowed several lacs of rupees.

The gold mortgaged in a private finance company in Cherkala was sold to a Trissur resident. Investigations have revealed that it is fake. A complaint was lodged with Kasargod police in this regard.

Police investigations have revealed a large network of cheats. Police obtained information of the suspects and have arrested the trio.

Police have said that the suspects have cheated in Koyikkode, Kannur, Trissur, Palakkad, Vaynad, Malappuram and other places.


The suspects used to mortgage their gold as 916 purity. Preliminary investigations have revealed that the suspects have mortgaged fake gold in several places in the state and cheated people of several crores of rupees.
  

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Comment on this article

  • Wilfy, Manglore

    Wed, Oct 01 2014

    Please note that money is gone. How much you squeeze these guys money is not going to come back. Banks and Financial institutes call it as bad debts. There is equal share between culprits and bank officials.

    DisAgree [2] Agree [3] Reply Report Abuse

  • Ali, mangalore

    Tue, Sep 30 2014

    When a student caught by police where u were? sleeping http://www.daijiworld.com/news/news_disp.asp?n_id=266734. u dint commented anything . y? whoever engaged in antisocial activities must punish and everyone must condemn such acts irrespective of religion.

    DisAgree [5] Agree [4] Reply Report Abuse

  • Rudolf, Mumbai

    Tue, Sep 30 2014

    While condemning this 420 act, what is the use of arresting these small fish when 'white collar crimes' involving huge amounts are being done by top people employed in financial institutions by colluding with robbers!! Without the collusion of officials this activity is not possible and the small fish are just the 'sacrificial lambs' while the brainchild is safe!!

    Pathetic indeed to read a recent news report (TOI Mumbai) of a top bank official of a PSU bank herself giving all the keys (11 sets) of a bank branch from main door to locker for a cut from the loot!! Incidentally the robber was caught after he plundered the bank locker worth 55 lacs and when interrogated he is said to have done the same thing many times earlier in collusion with different banks using the same modus operandi!! Incidentally, he was a tea vendor supplying tea from a roadside shanty and was worth crores with multiple bank accounts and properties in his relatives names back down in his native village!! Jai Hind!!

    DisAgree [2] Agree [9] Reply Report Abuse

  • ali, mangalore

    Tue, Sep 30 2014

    Welcome everyone. Most regular commentators were missing from few days. Suddenly everyone appeared coz the accused are Muslims.

    DisAgree [13] Agree [10] Reply Report Abuse

  • Sudhakar, Kallianpur

    Tue, Sep 30 2014

    Mr. Ali,
    Neenu yaava "Udhbava Moorthy"?

    Instead of just seeing the name of the persons who commented here, read all the comments before shredding tears for the accused. Most of the commentators pointed out the loopholes of the banks/financial institutions. Persons like you are more dangerous than these culprits.

    DisAgree [3] Agree [16] Reply Report Abuse

  • Allen, Mangalore

    Tue, Sep 30 2014

    Mr Ali, don't blame the most regular commentors, blame the most 'regular culprtits'!

    DisAgree [6] Agree [16] Reply Report Abuse

  • KRPrabhu, Bangalore

    Tue, Sep 30 2014

    The ghapla happened only with private financiers/jewel loan loanders.PSU/private banks are always safe bet for jewel loan even though their service in this field is not satisfactory.Public should understand that there is no safety with private jewel loan providers who are today dominating the fort folio in the country in a mega scale especially companies operating from neibouring state .These companies have no insurance cover to fall back upon nor comply RBI safety norms for hoarding the pledged jewels.The appraisal is done by insiders only who is low salary paid employees.The safe vault's dual keys are held by a single person which is very dangerous.Employees of these companies are not in permanent employment and change the job whenever they like.There is no loyalty/trust factor in them like commpercial banks which is the very essence of financial sector.manupulations are possible with pledged jewels at any point of time.In the reported case insiders hand cant be ruled out.

    DisAgree [2] Agree [6] Reply Report Abuse

  • ilyas, qatar

    Tue, Sep 30 2014

    Dal mei kuch kalaye

    DisAgree [10] Agree [3] Reply Report Abuse

  • Sudhakar, Kallianpur

    Tue, Sep 30 2014

    Ilyas,
    Daal hi kala hai toh kya karega?

    DisAgree [3] Agree [15] Reply Report Abuse

  • KRPrabhu, Bangalore

    Tue, Sep 30 2014

    Nobody wants to live in poverty.Nobody wants to do crime.Nobody wishes to be noted as criminals,thieves etc.,Nobody want to kill another.Nobody wishes to lie.Nobody wants to indulge in frudelent activities and expose to punitive actions by law makers.All these are SUBJECT to their living condidtions/quality of life/educational standard one has/ability to lead a satisfied life/ good job/proper guidence/ oppertunity etc.,Therefore formost important factor that is the root cause is poverty initially.When people gets good education(minimum)he/she tries to lead a pious life.Education coupled with social upbringing is always influences the way of life of a person.Bridging a wall like actions will change the situation as long as social issues are addressed positively and effectively.This is possible only by political will by the rulers without an eye on vote banking which was being hitherto.Skill development theme envisaged by our PM is a major step in this direction.Soceity/rulers have a major reponsibility in transforming these misguided youths and to bring them to the main stream for the good of nation/soceity.Punitive actions alone can not correct the situation.

    DisAgree [1] Agree [8] Reply Report Abuse

  • Lawrence, USA

    Tue, Sep 30 2014

    Police should arrest the official of Financial Institution for accepting the fake gold for the loan. No one lend the loan on gold unless verifying the the purity. Looks like some hands in glove. Something is fishy here.

    DisAgree [1] Agree [8] Reply Report Abuse

  • Darmando, urwa

    Tue, Sep 30 2014

    When you take loan, banks does so much calculations etc, but when you fail to pay, they immediately sell the house for very cheap price to recover only their outstanding only.But look Kingfisher.
    when you want to take loan on gold, they will do so much checking of purity by gold smith, But here they faillllllllllleeeeeeed, (actualy manager cheated directly , who cares, tomorrow everybody will forget, so people who cheats will survive, remember, so you are all late, better start late then to lose the train

    DisAgree Agree [5] Reply Report Abuse

  • Dinesh Poojary, Kundapura/Bengaluru

    Mon, Sep 29 2014

    In spite of all BHAGYAS...

    DisAgree [10] Agree [14] Reply Report Abuse

  • Rita, Germany

    Mon, Sep 29 2014

    Unbelievable,mostly Banks and other instituions wants more security for their Money,and when Gold is mortgaging process,they will prove first its purity.How come here they didnt do it?Now they cant cry,they themselves are responsible for their loss.Everybody can tell lots of Storys about purity,but control is better than belief.

    DisAgree [5] Agree [15] Reply Report Abuse

  • shahnawaz kukkikatte, dubai/udupi

    Mon, Sep 29 2014

    We need to build china wall or berlin wall at our border at kasaragod n we dont want crime or criminals to trespass our state..kasaragod is crime city of india n the world...punish them harshly as much as u can..

    DisAgree [12] Agree [41] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Mon, Sep 29 2014

    You're right Shahnawaz bhai.
    Also one more wall required at Bhatkal. Both are criminals.

    DisAgree [6] Agree [31] Reply Report Abuse

  • Allen, Mangalore

    Mon, Sep 29 2014

    Nothing surprising! As usual!

    DisAgree [3] Agree [21] Reply Report Abuse

  • Dr S kamath, Mumbai

    Mon, Sep 29 2014

    This is a Criminal Offense no doubt and strict punishment is to be given to these .But I dont understand the Lender of Money why did he not check the purity at the time of lending money ??? why he came to know only at the time of selling ?

    DisAgree [3] Agree [12] Reply Report Abuse

  • KRPrabhu, Bangalore

    Tue, Sep 30 2014

    Lenders manupulation cant be ruled out.

    DisAgree Agree [4] Reply Report Abuse

  • Antony Fernandes, Mangalore/USA

    Mon, Sep 29 2014

    Why they arrested only these 3. It is the truth of saying "you can not clap in one hand" there is no doubt banks and financial institutions people also involved in this fraud. if I am giving them a fake gold coin to the banker will they accept it???

    DisAgree [3] Agree [17] Reply Report Abuse

  • For Justice, Abu Dhabi / Ubar

    Mon, Sep 29 2014

    Whether the bankers were loaded with PITK when they provided gold loan to these fraudsters? If the genuine customers go for the same they do proper examination of gold to verify the originality but don't do the same with fekus?

    Something unbelievable here,how come they provide loan simply accepting fake gold? There must be inner hands having role in such things.

    DisAgree [1] Agree [16] Reply Report Abuse


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