MP: 2 More Arrested In Canara Bank Gold Loan Fraud Case

MP: 2 More Arrested In Canara Bank Gold Loan Fraud Case

87 cheated bank depositing counterfeit gold in Malhargarh

FP News ServiceUpdated: Wednesday, January 17, 2024, 10:42 PM IST
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Mandsaur (Madhya Pradesh): Malhargarh police arrested two more persons in connection with the gold loan fraud case at Canara Bank which dates back to 2020. Around 87 people cheated the bank by mortgaging fake gold to the bank. As per details, the main accused was identified as Rajesh Soni who was working as a bank manager, Canara Bank branch and used to assess the authenticity of gold as well as the valuation of the yellow metal. Senior police officials said that Soni used to arrange customers and certify fake gold as original.

On the basis of his report, the bank used to sanction gold loans to the customers. It was alleged that around 49 customers had pledged fake gold and availed loans. The matter came to light on July 27, 2020, after the Canara Bank branch manager submitted a formal application with Malhargarh police station. 

He stated that 409 gold loans were sanctioned by Canara Bank from the year 2016 to 2017, out of which, deposits in 87 gold loans were found to be fake. 

Malhargarh SDOP Narendra Solanki said that instructions were received from senior officers to investigate and arrest the criminals who had been absconding for a long time. Following the directives, the accused, identified as Ajbanur Mansoori (30) and Shakir Mansoori (46) both residents of Malhargarh, who had been evading arrest since 2020, were apprehended.  Of the 49 accused, the remaining five accused were absconding in the crime. Two of them have been arrested. 3 are still at large.

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