Couple Pledges Fake Gold for Rs 4.5 crore Loan, Arrested
Mangaluru: The North police have arrested a couple on July 25, for pledging fake gold in the Catholic Syrian Bank and taken Rs 4.5 crore loan.
The arrested have been identified as Vidyanand Rao (59) and his wife Lalitha Rao (52) from Maryhill, Bondel.
Vidyanand has pledged fake gold thirty-eight times and Lalitha nine times in the bank and have cheated the bank.
Recently in Udupi, a family of four had committed suicide after pledging fake gold and taking a loan of Rs 64 lakh from the bank. After that incident, most of the banks have started checking the gold being pledged in the bank. In the process of checking, the Catholic Syrian Bank officer found that the gold which was pledged by Vidyanand and his wife Lalitha Rao was fake.
The Catholic Syrian Bank officers approached the North Police Station and filed a complaint against Vidyanand and Lalitha. Based on the complaint the police inspector of North Police Station Shantharam, Sub-inspector Mandan and team arrested the couple.