Fraud Mortgage with Fake Jewellery
In 2019, Jayaram, the manager of the nationalised bank branch in Avarampalayam, coimbatore, filed a complaint with the coimbatore Municipal Crime Branch Police. karthik, who has been on Sullivan Street since 2004, works at the bank as a jeweller appraiser. In his name, Ganesan has 16 jewellery loans. The appraiser karthik validated Ganesan's jewellery as genuine and certified it as such. Ganesan was given a loan sum based on this.
When Ganesan arrived to pick up the jewellery, it was discovered that it was counterfeit. Ganesan claimed the false jewellery was placed in reaction to the genuine jewellery he had donated. As a result, the appraiser became suspicious of karthik, and we removed the jewellery from the 39 pockets he meticulously examined. It was discovered that there was 3,819 grammes of false jewellery in it. The bank suffered a loss of Rs 67.38 lakh as a result. customers who maintained phoney jewellery were to be prosecuted, according to karthik and his associates.
Karthik and others have been charged under three sections of the law, including fraud and conspiracy. karthik, who had been hiding, was captured by the police yesterday after a long search. Other suspects in the case are still being investigated by police.