The Bhopal crime branch has arrested the manager and deputy manager who committed fraud by sanctioning a fake gold loan of Rs 5.50 crore in Manappuram company.

Piplani police had registered a case of fraud against the manager, deputy manager and others on the complaint of the area head of Manappuram Gold Loan Company.

Later the investigation of the case was handed over to the Crime Branch. On Friday, five accused were arrested in this case. The accused has lost the entire amount embezzled by defrauding the bank in online betting.

DCP Shrutkirti Somvanshi said that on the complaint of Ramsevak Sharma, area head of Piplani Manappuram Gold Loan Branch, Piplani police had registered a case of fraud against manager Sanjay Saini and deputy manager Ajay Pal Singh and others on February 26 last month.

The accused had sanctioned gold loans to the customers by fraudulently mortgaging the gold. In collusion with customers and goldsmiths, the manager and deputy manager had defrauded the company of Rs 5.50 crore. After the matter came to light, the company investigated it at its own level. Investigation revealed that the accused had defrauded 95 customers.

Additional DCP Shailendra Singh Chauhan said that Sanjay Saini made shocking revelations during interrogation. He said that the customers used to deposit the entire amount of the gold loan and take the gold from the branch. The amount was kept with itself instead of being deposited in the branch. With this amount, the accused used to invest in online rummy and casino app games.

Similarly, by removing the jewelery from the gold jewelery kept by 95 customers in the bank, hundreds of fake loan cases were made in the name of their acquaintances, friends and other bank employees by forging signatures in fake names in the last one year. Four lakh rupees were withdrawn separately and invested in online gaming. The said act was carried out by the accused with the help of his assistant Ajay Pal Singh.

The role of other officers and employees of the branch is being investigated. The Crime Branch took action and arrested online gaming businessmen Ravi Shankar Rajput, Sandeep Patel and Farhan Khan, who had gone underground after hearing the news of Sanjay Saini's arrest. These people told during interrogation. It is said that these people work for Sonu alias Andakari of Bairagarh on 10 percent basis. Presently Sonu alias Andakari is absconding underground and is being searched by the Crime Branch, Bhopal.

Sanjay Soni lives on rent in Gautam Nagar. Accused Ravi Shankar Rajput also lives there. The one who is a betting agent lives a luxurious life. Many henchmen stay with him. Time got affected by his lifestyle. When both of them became friends, Ravi Shankar told him to earn money through betting. Taught him to play betting on online app. In the beginning, Sanjay used to gamble up to Rs 10,200. After becoming addicted, he placed bets worth crores of rupees, for this he had created 15 different IDs.