Three arrested for gold loan fraud in Sivaganga

An alert appraiser of a public sector bank in Manamadurai helped in the arrest of three persons, including two women, when they allegedly tried to pledge imitation jewellery with the bank here on Friday.

Following a complaint by Jhansi Rani, Manager of the bank, a case was registered.

Preliminary inquiries revealed that Kottaiammal, 55, Eswari, 45, and Janardanan, 32, had come to the branch and wanted to pledge 116 grams (about 14.5 sovereigns) of gold jewellery. When the appraiser found them to be imitation jewellery, he reported it to the manager. Immediately, the police were informed and the three were arrested.

Inquiries showed that the three had earlier pledged 401 grams (about 150 sovereigns) of gold jewellery in the past and taken loan of ₹36.37 lakh.