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.