Police have arrested seven persons, including a jeweller, for allegedly duping the Bank of Baroda of Rs 52 lakh by pledging fake gold ornaments.
The accused were identified as IshwarSaraf, his son SurendraSaraf, Anjan Sa, HajaruSahu, Doctor Seth, RamchandraBania and JayanarayanMaharana. They were nabbed on the basis of a complaint filed by a Manager of the bank, said Subarnapur SP Amaresh Kumar Panda on Tuesday.
Panda said 65 fake gold loans amounting to Rs 52.83 lakh were availed by 11 scamsters between 2019 and 2021 and seven among them have been arrested. “The accused goldsmith arranged a fake certificate for the fraudsters based on which the loan was approved,” he said.
IshwarSaraf had earlier cheated Sonepur UCO Bank of Rs 19 lakh by depositing fake gold, he further said.
Police are also investigating the involvement of any bank officials in the racket.