MP: FIR Registered Against Six, One Held In Gold Loan Scam In Pipariya

Pipariya (Madhya Pradesh): One month has passed since the police registered a case against six persons, including some officials of a private bank for a rip-off worth Rs 4 crore against the bank’s gold loan scheme.

Nevertheless, the cops have yet to lay their hands on the main culprit and his cohorts. The bank used to sanction loans against fake gold, the police said. After the fraud came to light, the police registered an FIR against the culprits on May 26.

The main culprits in the case are Ram Raghuwanshi, assistant branch manager Anil Patel, gold loan in-charge Rohit Raghuwanshi, self-designated in-charge Goldie Kahar and the authorised jewelers to check the purity of gold Shailendra Soni and Anand Soni.

The FIR was registered after a complaint by branch’s head manager Ashok Kumar Agarwal. But the police arrested only one culprit, Rohit Raghuwanshi.

According to town inspector Umesh Tiwari, cases were registered against these people for making fake papers to commit financial irregularities. The bank kept fake gold and distributed loans among several people.

Superintendent of police Gurukaran Singh set up an inquiry committee after the complaints had been lodged. According to reports, the jewelers authorised by banks used to give loans on fake gold. The employees of the bank got the accounts of their acquaintances opened, sources said. The fake gold was received through those accounts.

The fraud came to light when the top brass of the bank audited its accounts. Tiwari said the police had arrested a culprit on the day when FIR was registered. Rest of the culprits will soon be in the police custody, he said.