Madikeri: Kodagu district police have apprehended a man for allegedly defrauding the Kodagu District Central Cooperative (KDCC) Bank by pledging counterfeit gold jewellery.
The accused, identified as K.A. Mohammed Rizwan from Kunjila village, was arrested following a complaint lodged by KDCC bank officials, according to a report in TOI. According to the police, Rizwan attempted to pledge gold ornaments at the bank when officials discovered they were counterfeit. Upon realising this, the bank promptly informed the authorities, who detained and later arrested the suspect.
Further investigations revealed that this was not Rizwan’s first fraudulent act. Police disclosed that Rizwan had successfully pledged gold jewellery at the same bank on two previous occasions. However, during his third attempt, suspicions arose, prompting bank officials to re-examine the ornaments he had pledged earlier. The analysis confirmed that the previously pledged items were also fake.
Rizwan is accused of defrauding the bank of ₹15.13 lakh by using counterfeit gold jewellery as collateral. The police stated that he managed to deceive the bank repeatedly until his recent failed attempt exposed the scam.
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