Customer Pledges Fake Jewellery; Dupes PNB Of ₹43 Lakh In Jabalpur

Jabalpur (Madhya Pradesh): A major fraud case has come to light at the Cantonment branch of Punjab National Bank (PNB), where customers allegedly obtained gold loans worth around ₹43 lakh by pledging fake gold.

The matter came to light after the branch manager noticed suspicious loan accounts and ordered an internal check. During the investigation, it was found that several customers had allegedly submitted fake gold ornaments to secure loans from the bank.

According to officials, 13 customers took gold loans by pledging fake gold. The borrowers were also not paying their loan instalments, which raised suspicion. Following the inquiry, the bank classified the suspicious loan accounts as Non-Performing Assets (NPAs).

Police have registered a case against 15 people in connection with the fraud, including two gold valuers who were responsible for checking and assessing the gold submitted by customers for loans. Investigators suspect that the accused customers were able to obtain loans by using fake gold with the help of the valuers, who allegedly cleared the jewellery as genuine during the verification process.

The investigation is not limited to the borrowers and valuers. Bank officials are also under scrutiny to determine whether any negligence or involvement on their part helped the fraud go unnoticed.

The Cantonment police have launched a detailed probe to find out how the fake gold passed multiple checks and whether any bank employees played a role in approving the loans. Authorities are also examining loan records and verification documents as part of the investigation.